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3913 Oak Park Flower Mound, TX 75028

4 Beds 2 Baths 2,100 sqft Built 1997

$345,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $164.29
  • 3 Days on Market
  • MLS # : 14508448
  • Updated Date : 01/29/2021 at 16:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Showings Sat. Jan 30 10:30 - 12:30 only. This 4bdrm, 2 bath, 2 car garage is ready for your special touch! Loved by the original owners who plan to move closer to family, they are ready to pass their home off to new owners. Well sought after area with lots of nearby amenities and great schools. Wood tile floor throughout - updated kitchen counters.

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: Oak Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Oak Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Forest Vista Elementary School Primary Regular 546 37 9
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Forest Vista Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 37
9
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,198
Property Tax -$596
Property Insurance -$149
HOA -$17
Property Management Fees -$99
CASH FLOW
-$8

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.

$345,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,643

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,158

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0703$2,1504$2,2005$2,375
$2,375
RENT COMPS ANALYSIS
  • 3913 Oak Park Flower Mound, TX 1
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.98
    •  
  • 4621 Sandera Lane Flower Mound, TX 2
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 1992
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.03
    •  
  • 4501 Sandera Lane Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1992
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.05
    •  
  • 585 Calvert Court Lewisville, TX 4
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2004
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 1905 Trevor Court Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2001
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.05
    •  
PROPERTY LISTING DETAILS
Jill Hughes
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508448
Last Updated: 01/29/2021
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