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532 Brookhaven Lane Oak Point, TX 75068

3 Beds 2 Baths 1,991 sqft Built 2018

$310,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $155.70
  • 4 Days on Market
  • MLS # : 14474052
  • Updated Date : 11/21/2020 at 21:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,991 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Gorgeous like new 1 story open concept home, loaded with builder upgrades. Walk through the breathtaking entry way, where you'll enjoy the open kitchen, dining and living room, in the center of your new home! The huge master suite is finished with premium paints, large windows allow an abundance of light, quartz counters, soaking tub and large walk in shower. Perfect 3 car garage has plenty of room for workbench and 2nd fridge. Throughout the rest of the home you'll fall in love with upgraded features and professional paints. The backyard is complete with an upgraded oversized covered patio, wired for sound and video. Enjoy your evenings around a firepit or in the huge yard. 3D Interactive tour available

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: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,144
Property Tax -$745
Property Insurance -$142
HOA -$33
Property Management Fees -$99
CASH FLOW
-$354

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.

$310,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.58%

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

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$276

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7504$1,8105$2,100
$2,100
RENT COMPS ANALYSIS
  • 532 Brookhaven Lane Oak Point, TX 4
    • 3 beds 2 baths ∙ 1,991 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,991 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.91
    •  
  • 304 Glenview Drive Oak Point, TX 1
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2010
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 545 Northwood Drive Oak Point, TX 2
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2017
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 212 Linden Court Oak Point, TX 3
    • 4 beds 2 baths ∙ 1,939 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,939 Sqft ∙ Built 2010
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 524 Kenilworth Avenue Oak Point, TX 5
    • 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 2010
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jonathan Hall
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474052
Last Updated: 11/21/2020
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