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9008 Chisholm Trail Cross Roads, TX 76227

3 Beds 2 Baths 1,120 sqft Built 2003

$225,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $200.89
  • 3 Days on Market
  • MLS # : 14480097
  • Updated Date : 12/04/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,120 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

This move in ready, immaculately maintained home has all you need! Great starter home, rental property or investment. The three beds and two baths are well sized and laid out for optimal comfort and functionality. Current owner has made numerous improvements to the home and property allowing you to move right in without hassle. Sit out on the covered front porch and enjoy this neighborly and kid friendly community or enjoy the privacy of the oversized, covered back patio. While you're here, check the amenities Cross Oak Ranch has to offer including two pools (one resort style with splash pad), several on site parks, on site elementary and middle schools, and massive stocked pond! This one will move fast.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Cross Oak Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k247k

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

Neighborhood: Cross Oak Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10961734

* 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$830
Property Tax -$434
Property Insurance -$92
HOA -$32
Property Management Fees -$99
CASH FLOW
-$167

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.

$225,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,372

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3953$1,4954$1,5005$1,525
$1,525
RENT COMPS ANALYSIS
  • 9008 Chisholm Trail Cross Roads, TX 1
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.18
    •  
  • 8921 Stewart Street Cross Roads, TX 2
    • 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 2004
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.16
    •  
  • 8831 Holliday Lane Aubrey, TX 3
    • 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 2004
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.24
    •  
  • 8816 Wayne Street Cross Roads, TX 4
    • 3 beds 1 baths ∙ 1,208 Sqft ∙ Built 2004 3 beds 1 baths ∙ 1,208 Sqft ∙ Built 2004
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.24
    •  
  • 9004 Eastwood Avenue Cross Roads, TX 5
    • 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 2006
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.26
    •  
PROPERTY LISTING DETAILS
Tyler Hall
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480097
Last Updated: 12/04/2020
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