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823 Post Oak Place Providence Village, TX 76227

4 Beds 3 Baths 2,331 sqft Built 2002

$274,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $117.55
  • 7 Days on Market
  • MLS # : 14487827
  • Updated Date : 12/28/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,331 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Providence Village living across the street from the neighborhood park. You're warmly welcomed the moment you step inside this spacious 4 bedroom, 3 bath home. Bright & open layout provides space for everyone. Fabulous kitchen, ample prep space, breakfast bar, and access to covered patio. Primary suite downstairs with separate shower, large tub, and walk-in closet. Bedrooms, and full baths share the second floor with a Texas-sized game room. Private backyard with covered patio and lush landscaping provides additional outdoor living and entertaining space. Enjoy all the extensive amenities Providence Village is known for!

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: Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k336k

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

Neighborhood: Providence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11042171

* 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
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

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,011
Property Tax -$586
Property Insurance -$162
HOA -$60
Property Management Fees -$99
CASH FLOW
-$188

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.

$274,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 70% 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

1.42

YEARS SAVED

$2,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,8003$1,8504$1,9955$2,050
$2,050
RENT COMPS ANALYSIS
  • 823 Post Oak Place Providence Village, TX 1
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.74
    •  
  • 9804 Cedarcrest Drive Providence Village, TX 2
    • 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2002
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 1350 Providence Boulevard Providence Village, TX 3
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2004
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 1010 Catskill Drive Providence Village, TX 4
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2004
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 10253 Lakeview Drive Providence Village, TX 5
    • 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 2004
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.82
    •  
PROPERTY LISTING DETAILS
Tabatha Polley
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487827
Last Updated: 12/28/2020
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