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3300 W Oak Shores Drive Cross Roads, TX 76227

4 Beds 4 Baths 2,418 sqft Built 2001

$525,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $217.12
  • 3 Days on Market
  • MLS # : 14480254
  • Updated Date : 12/04/2020 at 13:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,418 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Imagine a fresh start to the new year in a lovely home in this coveted lakeside community! Country living minutes from major highways, shopping, recreation, and schools. Enjoy the sun by the diving pool, relax in the spa, build a fire in the fire pit, and let the stress melt away. Spacious kitchen and dining room are open to the living room, complete with gas fireplace. Secluded master suite has gas fireplace and luxurious bath. A bedroom and bath are split from others for a great office when working from home. No carpet, travertine tile throughout. A space for all your toys in the 720 SF workshop with HVAC, includes half bath and exercise room with beautiful view of pond. Neighborhood activities for all ages!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Oak Shores

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $112k539k

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

Neighborhood: Oak Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262724

* 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,937
Property Tax -$1,122
Property Insurance -$167
HOA -$21
Property Management Fees -$99
CASH FLOW
-$1,246

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.

$525,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.40%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$98

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,1004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3300 W Oak Shores Drive Cross Roads, TX 4
    • 4 beds 4 baths ∙ 2,418 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,418 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 608 Pawnee Street Aubrey, TX 1
    • 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2015
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 8208 Yukon Lane Aubrey, TX 2
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2014
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 1012 Broken Wheel Trail Aubrey, TX 3
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2016
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 8216 Bonanza Street Aubrey, TX 5
    • 3 beds 3 baths ∙ 2,761 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,761 Sqft ∙ Built 2016
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jan Nichols
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480254
Last Updated: 12/04/2020
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