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280 Cascade Drive Red Oak, TX 75154

4 Beds 3 Baths 2,605 sqft Built 1997

$324,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $124.72
  • 2 Days on Market
  • MLS # : 14487964
  • Updated Date : 12/19/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,605 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mra, Realtors

Listing Agent's Description

A MUST SEE! Beautifully Updated 4 bed 2.1 bath home on Wooded corner lot in Desirable Red Oak! The formal dining & living space greets guests from the front door. The spacious Kitchen features Double ovens, Granite, Butler’s Pantry & open to the large living space with a wood burning Fireplace & big windows that let in tons of natural light. Downstairs Master retreat features a Large Walk in Closet, Soaking Tub & Separate Shower. Upstairs features a trio of bedrooms, full bath & spacious Game Room. The backyard is very private & perfect for a future pool, playground or Pergola. Upgrades Include Laminate Wood Flooring, Carpet, Lighting, Paint & Fixtures. Easy access to Hwy 35, Downtown, schools & shopping.

SEE MORE

MARKET HIGHLIGHTS

  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
H.a. Wooden Elementary School Primary Regular 483 29 7
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

H.a. Wooden Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 29
7
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,199
Property Tax -$708
Property Insurance -$178
Property Management Fees -$99
CASH FLOW
-$194

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$324,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,389

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,990

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,0003$2,2254$2,2505$2,595
$2,595
RENT COMPS ANALYSIS
  • 280 Cascade Drive Red Oak, TX 1
    • 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.76
    •  
  • 608 Aspen Court Red Oak, TX 2
    • 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 2006
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 321 Village Drive Red Oak, TX 3
    • 3 beds 3 baths ∙ 2,711 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,711 Sqft ∙ Built 2007
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.82
    •  
  • 513 Sunflower Street Red Oak, TX 4
    • 4 beds 3 baths ∙ 2,827 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,827 Sqft ∙ Built 1977
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 1908 Willow Bend Drive Oak Leaf, TX 5
    • 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 2004
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.88
    •  
PROPERTY LISTING DETAILS
Robert Alvarez
Mra, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487964
Last Updated: 12/19/2020
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