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851 Post Oak Place Providence Village, TX 76227

3 Beds 3 Baths 2,067 sqft Built 2002

$270,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $130.62
  • 1 Days on Market
  • MLS # : 14518132
  • Updated Date : 02/13/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,067 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orchard Brokerage

Listing Agent's Description

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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: 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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$938
Property Tax -$577
Property Insurance -$147
HOA -$60
Property Management Fees -$99
CASH FLOW
-$61

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.

$270,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.65%

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-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,814

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7453$1,7604$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 851 Post Oak Place Providence Village, TX 3
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.85
    •  
  • 10015 Cedar Lake Drive Providence Village, TX 1
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2003
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 10312 Franklin Drive Providence Village, TX 2
    • 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2005
    property image
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.87
    •  
  • 10209 Nantucket Drive Providence Village, TX 4
    • 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2005
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 1220 Stratford Drive Providence Village, TX 5
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2002
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
PROPERTY LISTING DETAILS
Alix Spruce
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518132
Last Updated: 02/13/2021
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