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6560 Leaning Oaks Street Dallas, TX 75241

3 Beds 2 Baths 1,514 sqft Built 2006

INVESTimate

$175,500

List Price

$1,350

$1,215 - $1,485

Rent Est.

$199,649  ( +13.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $115.92
  • 5 Days on Market
  • MLS # : 14418942
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,514 sqft
  • Baths : 2 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

This 3 bedroom 2 full bathroom home is a great starter home or for a small family !!!! Nice open floor plan with neutral colors, eat in kitchen and breakfast bar. Black appliances stove, dishwasher and fridge. Good size master bedroom with walk-in closet. The other 2 bedrooms are great for an office and guest bedroom. Do not miss your chance at making this home yours priced right and will sell quick!!!

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

Neighborhood: Cedar Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $81k243k

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

Neighborhood: Cedar Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661734

* 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
Wilmer-hutchins Elementary School Primary Regular 932 53 NA
Kennedy Curry Middle School Middle Regular 785 50 NA
Wilmer-hutchins High School High Regular 863 68 NA

Wilmer-hutchins Elementary School

  • Education Level: Primary
  • # of students: 932
  • # of teachers: 53
NA
GreatSchools Rating

Kennedy Curry Middle School

  • Education Level: Middle
  • # of students: 785
  • # of teachers: 50
NA
GreatSchools Rating

Wilmer-hutchins High School

  • Education Level: High
  • # of students: 863
  • # of teachers: 68
NA
GreatSchools Rating
 

$157,950$193,050$175,500

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$648
Property Tax -$416
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
$73

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.

$175,500

PROJECTED PRICE

$1,350

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 13.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,258

INVESTMENT

$52,258

Down Payment
$43,875
Rehab Estimate
$5,750
Closing Costs
$2,633

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$648

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,875
Loan Amount $131,625
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$14,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,359

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,3954$1,4155$1,450
$1,450
RENT COMPS ANALYSIS
  • 6560 Leaning Oaks Street Dallas, TX 2
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 2926 Midway Plaza Boulevard Dallas, TX 1
    • 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2006
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
  • 6655 Cattle Drive Dallas, TX 3
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 2010
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 6118 Veranda Way Dallas, TX 4
    • 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 2005
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $0.90
    •  
  • 3444 Pinebrook Drive Dallas, TX 5
    • 4 beds 2 baths ∙ 1,683 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,683 Sqft ∙ Built 2000
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
PROPERTY LISTING DETAILS
Arieal Hernandez
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418942
Last Updated: 08/22/2020
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