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2920 Winding Ridge Court Oak Point, TX 75068

4 Beds 3 Baths 2,208 sqft Built 2018

$375,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $169.84
  • 4 Days on Market
  • MLS # : 14497688
  • Updated Date : 01/16/2021 at 18:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,208 sqft
  • Baths : 3 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

GORGEOUS 1 story 'modern farmhouse' on private greenbelt lot with white paint, modern 8' door & designer lighting. 4 bedrooms plus a study and 3 full bathrooms. DREAM KITCHEN with farm sink, 5 burner gas cooktop, white cabinets, large island, stainless steel appliances, double oven, and huge walk-in pantry. Familyroom fireplace with custom door. Private master suite with sitting area, dual closets, frameless glass shower with seat, custom mirrors and lighting. Large covered patio overlooking a large private treelined backyard. Enjoy amazing amenities in Wildridge including miles of lakeside trails, large amenity center with a community pool, playground, parks, stocked fishing ponds, & kayaks for the residents.

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: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Oak Point Elementary School Primary Regular 617 39 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Oak Point Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 39
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,303
Property Tax -$745
Property Insurance -$155
HOA -$79
Property Management Fees -$99
CASH FLOW
-$171

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,816

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,147

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$2,0503$2,1004$2,2005$2,210
$2,210
RENT COMPS ANALYSIS
  • 2920 Winding Ridge Court Oak Point, TX 5
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.00
    •  
  • 545 Northwood Drive Oak Point, TX 1
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2017
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 3316 Grande Aubrey, TX 2
    • 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 2020
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.00
    •  
  • 524 Kenilworth Avenue Oak Point, TX 3
    • 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 2010
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 9616 Oxbow Lane Little Elm, TX 4
    • 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2020
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Trey Laquey
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497688
Last Updated: 01/16/2021
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