Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

640 Hazeltine Road Red Oak, TX 75154

5 Beds 3 Baths 2,779 sqft Built 2021

$379,900

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $136.70
  • 5 Days on Market
  • MLS # : 14526193
  • Updated Date : 03/03/2021 at 21:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,779 sqft
  • Baths : 3 full
Listing Agent

Key Trek-cc

Listing Agent's Description

Oakmont Park in Red Oak offers new single-family homes! Located next to a future community park! Built by K. Hovnanian Homes. Convenient access to I-35E and all the adventure in Dallas! Stunning easy care vinyl plank flooring throughout! Welcoming great room with corner fireplace and open dining area! Gorgeous kitchen showcases quartz counters with GE® appliances! Wonderful corner pantry. Serene owner's suite enjoys an upgraded luxury bath with oversized shower and separate tub! Quiet home office located at entry. Fun gameroom and three bedrooms at second floor. Convenient guest bedroom and hall bath on 1st floor. Shady covered patio-perfect for outdoor dining! Smart home features! $10,000 in upgrades included.

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: 75154

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* 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
Eastridge Elementary School Primary Regular 408 24 7
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

Eastridge Elementary School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 24
7
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,320
Property Tax -$828
Property Insurance -$188
HOA -$8
Property Management Fees -$99
CASH FLOW
-$13

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$379,900

PROJECTED PRICE

$2,430

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,674

INVESTMENT

$102,674

Down Payment
$94,975
Rehab Estimate
$2,000
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$15,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,362

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1953$2,2004$2,430
$2,430
RENT COMPS ANALYSIS
  • 640 Hazeltine Road Red Oak, TX 4
    • 5 beds 3 baths ∙ 2,779 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,779 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.87
    •  
  • 608 Aspen Court Red Oak, TX 1
    • 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 2006
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 201 Shady Oaks Lane Red Oak, TX 2
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2005
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.85
    •  
  • 405 Blue Berry Lane Red Oak, TX 3
    • 4 beds 2 baths ∙ 2,468 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,468 Sqft ∙ Built 2004
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
PROPERTY LISTING DETAILS
Teri Walter
Key Trek-cc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526193
Last Updated: 03/03/2021
BESbswy