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405 Bluebonnet Lane Red Oak, TX 75154

3 Beds 2 Baths 1,693 sqft Built 1997

$300,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $177.20
  • 3 Days on Market
  • MLS # : 14473694
  • Updated Date : 11/20/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,693 sqft
  • Baths : 2 full
Listing Agent

Nexthome Integrity Group

Listing Agent's Description

Custom Built home, oversized lot .56 acre 4 car garage! (Two 22x22 size garages) NOT a mistype however, One is attached with extra 18x4 storage and the other is detached with one half regular doorway entry access. See building sketch for a visual. This is priced right for the additional features and priced reasonably, oversized driveway, tastefully landscaped, huge backyard, all brick home, quiet neighborhood, culdesac living, interior lot, close to schools, shopping, parks, and places to eat. Don't miss this amazing preowned opportunity for a quick sale, move-in ready. Nice Surprises at every turn. Must See to fall in love.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* 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
Red Oak Elementary School Primary Regular 635 37 6
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

Red Oak Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 37
6
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,107
Property Tax -$654
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
-$405

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.

$300,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$63

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,676

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5803$1,6504$1,8455$1,895
$1,895
RENT COMPS ANALYSIS
  • 405 Bluebonnet Lane Red Oak, TX 2
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.93
    •  
  • 600 Aspen Court Red Oak, TX 1
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2007
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 745 Mulberry Court Red Oak, TX 3
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2007
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 503 Bluebonnet Lane Red Oak, TX 4
    • 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1981
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.00
    •  
  • 603 Aspen Court Red Oak, TX 5
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 2008
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.01
    •  
PROPERTY LISTING DETAILS
Diane Terry
Nexthome Integrity Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473694
Last Updated: 11/20/2020
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