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317 Shady Oaks Drive Murphy, TX 75094

4 Beds 4 Baths 3,354 sqft Built 2002

INVESTimate

$450,000

List Price

$2,320

$2,088 - $2,552

Rent Est.

$466,740  ( +3.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $134.17
  • 8 Days on Market
  • MLS # : 14416122
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,354 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mission Real Estate Group

Listing Agent's Description

Immaculate home in a fabulous community of Murphy. Great floor plan with oversized bedrooms including master suite down and 3 bedrooms, 2 baths and family room up. Freshly painted interior in designer colors, Vaulted ceilings, 7.5 inch tall baseboards, hand scraped wood floors, plantation shutters in front, and crown moulding can be found on the main floor. Kitchen boasts beautiful hood and pull out spice racks flanking 6 burner gas range. Bright and airy spa like master bath newly completed, and custom built master closet! 3 car side entry with extra side parking. Private backyard with 6’ board on board fencing. Plenty of room to host family and friends! New roof and gutters 2017.

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: Hunter's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k485k

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

Neighborhood: Hunter's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262816

* 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
Boggess Elementary School Primary Regular 772 52 9
Murphy Middle School Middle Regular 1,217 65 10
Mcmillen High School High Regular 1,088 70 8

Boggess Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 52
9
GreatSchools Rating

Murphy Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 65
10
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,660
Property Tax -$783
Property Insurance -$221
HOA -$8
Property Management Fees -$99
CASH FLOW
-$452

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.

$450,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.72%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,507

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,4503$2,5004$2,6505$2,699
$2,699
RENT COMPS ANALYSIS
  • 317 Shady Oaks Drive Murphy, TX 1
    • 4 beds 4 baths ∙ 3,354 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,354 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.69
    •  
  • 306 Lakefield Drive Murphy, TX 2
    • 5 beds 3 baths ∙ 3,510 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,510 Sqft ∙ Built 2000
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.70
    •  
  • 310 Greenfield Drive Murphy, TX 3
    • 4 beds 4 baths ∙ 3,351 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,351 Sqft ∙ Built 2002
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 214 Sherwood Drive Murphy, TX 4
    • 5 beds 4 baths ∙ 3,520 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,520 Sqft ∙ Built 2000
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.75
    •  
  • 122 Carolyn Lane Murphy, TX 5
    • 5 beds 3 baths ∙ 3,399 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,399 Sqft ∙ Built 2000
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,699
    • $0.79
    •  
PROPERTY LISTING DETAILS
Joe Iley
Mission Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416122
Last Updated: 08/20/2020
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