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608 Oaks Court Kennedale, TX 76060

3 Beds 2 Baths 1,750 sqft Built 2021

$349,700

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $199.83
  • 5 Days on Market
  • MLS # : 14534206
  • Updated Date : 03/17/2021 at 16:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,750 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

This gem is nestled in one of the best parts of Kennedale. This quiet community provides easy access to Interstate 20 and US Highway 287. With only 14 lots each home will be designed and built to suit your needs. Enjoy the outside community area or the parks that are sprinkled nearby and are the perfect place to spend time outdoors. Come see why this part of DFW is one of the best places to live!

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

Neighborhood: Oakhill Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Oakhill Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262426

* 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
Kennedale High School High Regular 993 60 5

Kennedale High School

  • Education Level: High
  • # of students: 993
  • # of teachers: 60
5
GreatSchools Rating
 

$314,730$384,670$349,700

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,215
Property Tax -$808
Property Insurance -$128
HOA -$75
Property Management Fees -$99
CASH FLOW
-$575

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$349,700

PROJECTED PRICE

$1,750

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
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-$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$94,671

INVESTMENT

$94,671

Down Payment
$87,425
Rehab Estimate
$2,000
Closing Costs
$5,246

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,425
Loan Amount $262,275
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$8

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,776

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,8754$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 608 Oaks Court Kennedale, TX 2
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 5101 Braddock Court Arlington, TX 1
    • 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 2016
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 324 Daleview Drive Kennedale, TX 3
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 2018
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.01
    •  
  • 4803 Pier Nine Drive Arlington, TX 4
    • 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 2003
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
  • 316 Daleview Drive Kennedale, TX 5
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2018
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.04
    •  
PROPERTY LISTING DETAILS
Georgie Zang
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534206
Last Updated: 03/17/2021
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