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4300 W Oak Shores Drive Cross Roads, TX 76227

5 Beds 3 Baths 2,870 sqft Built 2005

$524,900

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $182.89
  • 2 Days on Market
  • MLS # : 14470744
  • Updated Date : 11/14/2020 at 14:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,870 sqft
  • Baths : 3 full
Listing Agent

Briko Realty Services

Listing Agent's Description

Great opportunity to live in a n acre lot community nestled in a serene neighborhood between Denton and Frisco on Lewisville Lake! This gorgeous home has views of the lake from the front yard. New flooring and paint including hand scraped hardwoods and fresh carpet. Over-sized bedrooms and a HUGE master closet are just a few of the upgrades to this home. The upstairs bedroom can be used as a bedroom or a bonus room and has its own bathroom. New roof in Oct 2020 and a huge walk-in attic that could easily be converted into a media room, game room, or both! Enjoy the wooded view of the back yard on the screen porch. 5th bedroom is currently used as an office. Additional photos coming tomorrow!

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 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
 

$472,410$577,390$524,900

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,937
Property Tax -$1,122
Property Insurance -$193
HOA -$21
Property Management Fees -$99
CASH FLOW
-$952

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.

$524,900

PROJECTED PRICE

$2,420

PROJECTED RENT

0.46%

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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$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$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

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 $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$16

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,866

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$2,420
$2,420
RENT COMPS ANALYSIS
  • 4300 W Oak Shores Drive Cross Roads, TX 3
    • 5 beds 3 baths ∙ 2,870 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,870 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.84
    •  
  • 1400 Lakeshore Boulevard Oak Point, TX 1
    • 5 beds 4 baths ∙ 2,960 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,960 Sqft ∙ Built 2018
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.61
    •  
  • 8516 Sagebrush Trail Cross Roads, TX 2
    • 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2006
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
PROPERTY LISTING DETAILS
Erin Zachry
Briko Realty Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470744
Last Updated: 11/14/2020
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