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450 Oakwood Drive Greenville, TX 75402

3 Beds 2 Baths 2,654 sqft Built 1988

$349,990

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $131.87
  • 2 Days on Market
  • MLS # : 14479447
  • Updated Date : 12/05/2020 at 07:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,654 sqft
  • Baths : 2 full
Listing Agent

Re/max-3d Real Estate

Listing Agent's Description

Don't miss this well maintained home nestled in the trees on more than 2 acres! Homes in Ranchwood Estates offer a country feel, while still being conveniently located to local amenities. This custom built home features 3 bedrooms, 2 baths, a sun room and a bonus space. With a sink and built ins, the bonus space could be used for a craft or project room, a home school area or much more. The large kitchen island and open flow to the living room is great for entertaining. The master suite is accented with wainscoting and the master bath includes a tub, separate shower and 2 walk in closets. Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Lamar Elementary School Primary Regular 594 39 5
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Lamar Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 39
5
GreatSchools Rating

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$314,991$384,989$349,990

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,291
Property Tax -$787
Property Insurance -$181
Property Management Fees -$99
CASH FLOW
-$648

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.

$349,990

PROJECTED PRICE

$1,710

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,497

INVESTMENT

$98,497

Down Payment
$87,498
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,498
Loan Amount $262,493
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$15

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,8503$1,900
$1,900
RENT COMPS ANALYSIS
  • 450 Oakwood Drive Greenville, TX 1
    • 3 beds 2 baths ∙ 2,654 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,654 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.64
    •  
  • 9803 Hunters Run Street Greenville, TX 2
    • 3 beds 2 baths ∙ 2,554 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,554 Sqft ∙ Built 1998
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 10803 Trafalgar Drive Greenville, TX 3
    • 4 beds 3 baths ∙ 2,959 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,959 Sqft ∙ Built 1993
    property image
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.64
    •  
PROPERTY LISTING DETAILS
Amanda Stewart
Re/max-3d Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479447
Last Updated: 12/05/2020
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