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323 Oak Meadow Lane Cedar Hill, TX 75104

3 Beds 3 Baths 2,060 sqft Built 1993

$240,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $116.50
  • 5 Days on Market
  • MLS # : 14461507
  • Updated Date : 10/30/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,060 sqft
  • Baths : 2 full , 1 half
Listing Agent

Montgomery Realty Group

Listing Agent's Description

See Worthy!! Nice 3 bedrooms.2 bathrooms and a POOL!!! Large kitchen with island, and lots of counter space and cabinets! Great location and neighborhood. Home is in need of minor cosmetic attention. However, the asking price has been adjusted to address these issues. The home has a great layout, sits on a great lot with mature trees, and is ready for entertaining. Come see this opportunity before it's gone! Roof 4yrs, HVAC 1yr, Water Heater 3yrs.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Plummer Elementary School

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

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$886
Property Tax -$546
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
-$7

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.

$240,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.70%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,258

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,823

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7003$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 323 Oak Meadow Lane Cedar Hill, TX 1
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.81
    •  
  • 1017 Alden Drive Cedar Hill, TX 2
    • 4 beds 2 baths ∙ 1,949 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,949 Sqft ∙ Built 1997
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 1000 Neptune Court Cedar Hill, TX 3
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 1994
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 1228 Carberry Street Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 2000
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 803 Switzer Lane Cedar Hill, TX 5
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1990
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
PROPERTY LISTING DETAILS
Glenn Montgomery
Montgomery Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461507
Last Updated: 10/30/2020
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