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340 S Oak Branch Road Waxahachie, TX 75167

3 Beds 4 Baths 2,217 sqft Built 2007

$400,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $180.42
  • 2 Days on Market
  • MLS # : 14488092
  • Updated Date : 12/19/2020 at 18:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,217 sqft
  • Baths : 3 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

Must see, Pristine ranch house. Open living room and Kitchen with walls of windows overlooking backyard and covered patio to enjoy the tranquil views. Master suite has his and hers walk in closets, bonus 3rd closet along with large bathroom and oversized shower. Both secondary bedrooms are large, one has a window seat with storage. Separate large utility room right off garage. Garage is oversized with 3 garage doors holds 4+ cars and additional work area. 40x45 workshop with two 16ft roll up doors holds RV, large equipment and has attached office or game room and full bath, 5 ton AC. Additional storage shed attached to hold. Replaced roof, HVAC, hot water tank, septic pumps and more, see list!

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

Neighborhood: Wilemon Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $116k351k

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

Neighborhood: Wilemon Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10122536

* 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
Lorene Smith Kirkpatrick Elementary School Primary Regular 371 21 3
Maypearl Junior High School Middle Regular 169 12 6
Maypearl High School High Regular 311 30 5

Lorene Smith Kirkpatrick Elementary School

  • Education Level: Primary
  • # of students: 371
  • # of teachers: 21
3
GreatSchools Rating

Maypearl Junior High School

  • Education Level: Middle
  • # of students: 169
  • # of teachers: 12
6
GreatSchools Rating

Maypearl High School

  • Education Level: High
  • # of students: 311
  • # of teachers: 30
5
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,476
Property Tax -$668
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
$102

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$400,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$34,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,417

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5003$2,500
$2,500
RENT COMPS ANALYSIS
  • 340 S Oak Branch Road Waxahachie, TX 3
    • 3 beds 4 baths ∙ 2,217 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,217 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.13
    •  
  • 4110 Fm 66 Waxahachie, TX 1
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 1998
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.15
    •  
  • 211 N Oak Branch Road Waxahachie, TX 2
    • 3 beds 2 baths ∙ 2,432 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,432 Sqft ∙ Built 1987
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.03
    •  
PROPERTY LISTING DETAILS
Dorothy Scott
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488092
Last Updated: 12/19/2020
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