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617 Wounded Knee Drive Aubrey, TX 76227

3 Beds 2 Baths 1,578 sqft Built 2015

$274,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $173.64
  • 3 Days on Market
  • MLS # : 14492883
  • Updated Date : 01/01/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,578 sqft
  • Baths : 2 full
Listing Agent

Homes On The Lake Realty Llc

Listing Agent's Description

Clean and cute! Fall in love with this single story home across the street from Tannery Lake. Imagine unwinding by walking the trail around the lake or fishing this stocked, catch & release lake. Cross Oaks Ranch is a master planned community with trails, lakes, a fitness center, three pools, a spray yard and playgrounds. Conveniently located, close to 380 and the DNT. Lake Lewisville, Cottonwood Creek marina, the Little Elm boat launch and swim beach are all 10 min away. Schools are walking distance. Many upgrades inside the home, such as oil rubbed bronze fixtures, stainless steel appliances, granite, covered patio, full sod, sprinklers and radiant barrier. This home has it all!

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

Neighborhood: Cross Oak Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $112k260k

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

Neighborhood: Cross Oak Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110011501200125013001350140014501500155016001650170017501800Rent in $10961829

* 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
Cross Oaks Elementary School Primary Regular 596 40 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Cross Oaks Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 40
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$246,600$301,400$274,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,011
Property Tax -$529
Property Insurance -$118
HOA -$32
Property Management Fees -$99
CASH FLOW
-$139

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.

$274,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.3%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,360

INVESTMENT

$78,360

Down Payment
$68,500
Rehab Estimate
$5,750
Closing Costs
$4,110

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,011

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,500
Loan Amount $205,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,649

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6254$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 617 Wounded Knee Drive Aubrey, TX 5
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 9109 Wayne Street Cross Roads, TX 1
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2014
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 701 Cheyenne Drive Aubrey, TX 2
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2015
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 8613 Sagebrush Trail Cross Roads, TX 3
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2007
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.01
    •  
  • 9225 Wayne Street Cross Roads, TX 4
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2014
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.13
    •  
PROPERTY LISTING DETAILS
Renee Graver
Homes On The Lake Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492883
Last Updated: 01/01/2021
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