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600 Oliver Lane Waxahachie, TX 75165

3 Beds 2 Baths 1,196 sqft Built 2005

$168,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $140.47
  • 4 Days on Market
  • MLS # : 14464113
  • Updated Date : 11/13/2020 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,196 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

MULTIPLE OFFERS HIGHEST AND BEST OFFERS DUE SUNDAY 11-15 5PM....Lovely, well cared-for, split floorplan home on a corner lot with updates including wood look laminate floors & a floor to ceiling brick fireplace with large windows on either side. Pride of ownership is evident in the new paint inside and outside, new toilets, faucet, disposal, and stove. The roof was replaced in 2019 and exterior light fixtures added. The kitchen features a peek through to living area & an adjacent dining area. The backyard has a covered porch & storage building. Walking distance to Oliver Clift Elementary. No HOA and easy access to downtown, Highway 287, & I-35E. Ask about saving thousands with the special financing available!

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Clift Elementary School Primary Regular 462 31 5
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Clift Elementary School

  • Education Level: Primary
  • # of students: 462
  • # of teachers: 31
5
GreatSchools Rating

Howard Junior High School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 62
6
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$151,200$184,800$168,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$620
Property Tax -$313
Property Insurance -$96
Property Management Fees -$99
CASH FLOW
$142

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.

$168,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,270

INVESTMENT

$50,270

Down Payment
$42,000
Rehab Estimate
$5,750
Closing Costs
$2,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,000
Loan Amount $126,000
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$23,724

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,298

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,4503$1,6504$1,6745$1,695
$1,695
RENT COMPS ANALYSIS
  • 600 Oliver Lane Waxahachie, TX 1
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.06
    •  
  • 624 Jordan Lane Waxahachie, TX 2
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 2006
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
  • 612 Antonio Lane Waxahachie, TX 3
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2013
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 216 Bear Trail Waxahachie, TX 4
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2010
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,674
    • $1.09
    •  
  • 1204 Wyatt Street Waxahachie, TX 5
    • 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 2017
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jordan Davis
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464113
Last Updated: 11/13/2020
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