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301 Oak Lane Cedar Hill, TX 75104

5 Beds 3 Baths 2,453 sqft Built 1993

$268,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $109.25
  • 1 Days on Market
  • MLS # : 14531440
  • Updated Date : 03/13/2021 at 21:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,453 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Dreams Real Estate, Llc

Listing Agent's Description

Homes like this do not come along often! This rare five bedroom, two-half bath home is beautifully updated on a huge lot. Upstairs you will find four bedrooms, two bathrooms, and the laundry room! House provides both formal and informal dining rooms, along with a spacious living room featuring a fireplace! Upgrades include a tankless water heater, new cedar fence in the front and west side with a private gate, and remote to allow access for cars or trailers in the back yard, along with a new 10x8 shed in the back yard for storage. Carpeted stairway, as well as upgraded carpet in all rooms upstairs. Master bedroom includes vaulted ceilings, walk-in closets, as well as immaculate bathroom upgrades.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Meadowbrooke

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Meadowbrooke

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9221740

* 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
Plummer Elementary School Primary Regular 521 28 5
Cedar Hill High School High Regular 1,731 105 2

Plummer Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 28
5
GreatSchools Rating

Cedar Hill High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 105
2
GreatSchools Rating
 

$241,200$294,800$268,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$931
Property Tax -$610
Property Insurance -$169
Property Management Fees -$99
CASH FLOW
$132

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.

$268,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$76,770

INVESTMENT

$76,770

Down Payment
$67,000
Rehab Estimate
$5,750
Closing Costs
$4,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$931

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,000
Loan Amount $201,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$20,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,895

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8953$1,9404$1,9995$2,000
$2,000
RENT COMPS ANALYSIS
  • 301 Oak Lane Cedar Hill, TX 3
    • 5 beds 3 baths ∙ 2,453 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,453 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.79
    •  
  • 1213 Pettigrew Court Cedar Hill, TX 1
    • 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 1999
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.81
    •  
  • 716 Bishop Street Cedar Hill, TX 2
    • 5 beds 3 baths ∙ 2,454 Sqft ∙ Built 1986 5 beds 3 baths ∙ 2,454 Sqft ∙ Built 1986
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.77
    •  
  • 1307 Foster Street Cedar Hill, TX 4
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2006
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.73
    •  
  • 325 Wedgewood Lane Cedar Hill, TX 5
    • 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1999
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
PROPERTY LISTING DETAILS
Joshua Holt
Texas Dreams Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531440
Last Updated: 03/13/2021
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