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6006 Fm 1567 Lone Oak, TX 75453

3 Beds 3 Baths 1,786 sqft Built 2007

$375,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $209.97
  • 2 Days on Market
  • MLS # : 14488313
  • Updated Date : 12/18/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,786 sqft
  • Baths : 2 full , 1 half
Listing Agent

Huntex Properties Llc

Listing Agent's Description

This property has everything you want and then some. Gorgeous custom built home, 2007 model, with a great layout, salt water swimming pool, 1200 sqft metal building, on 5 acres, located in Lone Oak schools! This three bedroom, two and a half bath home has split bedrooms, his and her closets, HUGE bathroom with separate jetted tub and shower, 2 hot water heaters, brand new cooktop, METAL roof, all electric, plus many more interior features.Exterior - gorgeous! Huge outdoor covered kitchen that includes a built in grill with storage.A really nice salt water pool with volleyball net included with custom landscaping. Also a really nice 1200 square foot metal building. This is a MUST see with many amenities!!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 75453

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75453

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
Lone Oak Elementary School Primary Regular 433 30 6
Lone Oak Elementary School Middle Regular 433 30 6
Lone Oak High School High Regular 315 28 5

Lone Oak Elementary School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 30
6
GreatSchools Rating

Lone Oak Elementary School

  • Education Level: Middle
  • # of students: 433
  • # of teachers: 30
6
GreatSchools Rating

Lone Oak High School

  • Education Level: High
  • # of students: 315
  • # of teachers: 28
5
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,384
Property Tax -$643
Property Insurance -$130
Property Management Fees -$99
CASH FLOW
-$626

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.

$375,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.9%
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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$19

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,625

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,6303$1,650
$1,650
RENT COMPS ANALYSIS
  • 6006 Fm 1567 Lone Oak, TX 2
    • 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.91
    •  
  • 402 Fm 513 Lone Oak, TX 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1996
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.77
    •  
  • 114 Fm 1567 Lone Oak, TX 3
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1988
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
PROPERTY LISTING DETAILS
Holly Byrd
Huntex Properties Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488313
Last Updated: 12/18/2020
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