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404 Dempster Court Oak Point, TX 75068

3 Beds 2 Baths 1,633 sqft Built 2006

$250,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $153.09
  • 2 Days on Market
  • MLS # : 14517558
  • Updated Date : 02/12/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,633 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors/fm

Listing Agent's Description

Fantastically updated 3 bedroom 2 bath Brick home. Granite countertops in the kitchen with neutral paint colors throughout. Open floor plan features formal living and dining room slate and wood floors throughout. The large master suite features and garden tub, double sinks, and a great custom closet system. The back yard is huge with a covered patio.

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: Woodridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $88k308k

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

Neighborhood: Woodridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9451912

* 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
Oak Point Elementary School Primary Regular 617 39 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Oak Point Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 39
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$868
Property Tax -$601
Property Insurance -$122
HOA -$33
Property Management Fees -$99
CASH FLOW
-$123

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.

$250,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,739

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,6003$1,6504$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 404 Dempster Court Oak Point, TX 2
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 617 Lamp Post Lane Oak Point, TX 1
    • 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 2002
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
  • 1209 Cheyenne Drive Aubrey, TX 3
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2016
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 404 Northbrook Avenue Oak Point, TX 4
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2009
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 3437 Fashion Street Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2013
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.08
    •  
PROPERTY LISTING DETAILS
Dedrick Brown
Ebby Halliday, Realtors/fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517558
Last Updated: 02/12/2021
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