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901 Oarlock Drive Crowley, TX 76036

4 Beds 2 Baths 1,815 sqft Built 2005

$210,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $115.70
  • 3 Days on Market
  • MLS # : 14472748
  • Updated Date : 11/21/2020 at 16:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,815 sqft
  • Baths : 2 full
Listing Agent

Texas Premier Realty North Cen

Listing Agent's Description

Multiple Offer’s Received Final and Best due Sunday 11-22-2020 8pm This Charming Lennar home is ready to move in. This stylish residence is nestled in a desirably tranquil location. This home comes complete with one living rooms, a stylish kitchen that flows through to the open concept dining area living area.The master bedroom, complete with a master bathroom and a walk in closet . Ensures a place to have a private space to enjoy. This four bedrooms, two bathroom retains the value of peaceful living inside and out. Enjoy your well manicured back yard while you relax on the patio . Secured community pool and playground area. Buyer and Buyers agent to verify school and measurements.

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

Neighborhood: Creekside

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Creekside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
S.h. Crowley Intermediate School Primary Regular 456 26 4
S.h. Crowley Intermediate School Middle Regular 456 26 4
Crowley High School High Regular 2,033 150 4

S.h. Crowley Intermediate School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

S.h. Crowley Intermediate School

  • Education Level: Middle
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$775
Property Tax -$520
Property Insurance -$132
HOA -$37
Property Management Fees -$99
CASH FLOW
$57

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.

$210,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 2.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$14,888

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,602

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,535
1$1,5352$1,5503$1,5954$1,6205$1,700
$1,700
RENT COMPS ANALYSIS
  • 901 Oarlock Drive Crowley, TX 4
    • 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.89
    •  
  • 900 Oarlock Drive Crowley, TX 1
    • 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 2007
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.86
    •  
  • 429 Angler Drive Crowley, TX 2
    • 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 2008
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 1100 Boxwood Drive Crowley, TX 3
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2006
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 504 Paddle Drive Crowley, TX 5
    • 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 2006
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
PROPERTY LISTING DETAILS
Eric Keathly
Texas Premier Realty North Cen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472748
Last Updated: 11/21/2020
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