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4609 Oak Springs Drive Flower Mound, TX 75028

5 Beds 4 Baths 4,137 sqft Built 1995

$597,500

List Price

$3,720

$3.5K - $4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $144.43
  • 3 Days on Market
  • MLS # : 14480430
  • Updated Date : 12/04/2020 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,137 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Realtors/fm

Listing Agent's Description

THIS IS IT! ~ Rare opportunity in Flower Mound on almost half an acre! Homes are seldom for sale in this exclusive neighborhood. ~ Idyllic setting, surrounded by trees. Cul de sac lot. ~ Complete with swimming pool with expansive yard left over for entertaining & play. ~ LOADED with windows & light! ~ Plenty of rooms for everyone, including a BONUS room currently used for exercise and extra office. ~ Downstairs master suite features his and her separate closets. ~ Entertains beautifully inside & out. ~ Three car garage. ~ Great schools! ~ This home is EXCEPTIONALLY clean!

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

Neighborhood: Oak Bend Est

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k506k

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

Neighborhood: Oak Bend Est

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263033

* 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
Timber Creek Elementary School Primary Regular 470 32 8
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Timber Creek Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 32
8
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 51
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$537,750$657,250$597,500

PURCHASE PRICE

$3,348$4,092$3,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,720
EXPENSES Loan Payment -$2,205
Property Tax -$1,032
Property Insurance -$266
HOA -$38
Property Management Fees -$99
CASH FLOW
$81

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.

$597,500

PROJECTED PRICE

$3,720

PROJECTED RENT

0.62%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,088

INVESTMENT

$164,088

Down Payment
$149,375
Rehab Estimate
$5,750
Closing Costs
$8,963

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,205

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,375
Loan Amount $448,125
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$42,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,720

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,720
1$3,720
$3,720
RENT COMPS ANALYSIS
  • 4609 Oak Springs Drive Flower Mound, TX
    • 5 beds 4 baths ∙ 4,137 Sqft ∙ Built 1995 5 beds 4 baths ∙ 4,137 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $3,720
    • $0.90
    •  
PROPERTY LISTING DETAILS
Renie Masi
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 #: 14480430
Last Updated: 12/04/2020
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