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909 Country Creek Lane Red Oak, TX 75154

3 Beds 4 Baths 2,813 sqft Built 1993

$416,999

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $148.24
  • 4 Days on Market
  • MLS # : 14480066
  • Updated Date : 12/04/2020 at 11:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,813 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Country & City living combined! This BEAUTIFUL custom home features upgrades GALORE! Wood floors in living & bedrooms-- new carpet in family room. Gorgeous built-ins for storage. Great floor plan-each bedroom w bath & walk-in closet & built-ins, master retreat w sitting area & amazing closet. Gourmet kitchen w built-in refrigerator, double ovens, island veggie sink, custom knife drawer & cutting board, specially designed pullout pantry. Fresh paint throughout, recent roof & circular drive, skylights, huge lot w pecan trees, cvrd patio & deluxe hot tub. Over-sized 3 car garage w cabinets & storage, plus detached garage w workspace & parking-could easily be converted to guest house or rental. Truly a DREAM HOME!

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* 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
D.t. Shields Elementary School Primary Regular 563 33 6
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

D.t. Shields Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 33
6
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$375,299$458,699$416,999

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,539
Property Tax -$909
Property Insurance -$190
Property Management Fees -$99
CASH FLOW
-$456

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.

$416,999

PROJECTED PRICE

$2,280

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,255

INVESTMENT

$116,255

Down Payment
$104,250
Rehab Estimate
$5,750
Closing Costs
$6,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,539

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,250
Loan Amount $312,749
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,293

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2253$2,2804$2,2855$2,595
$2,595
RENT COMPS ANALYSIS
  • 909 Country Creek Lane Red Oak, TX 3
    • 3 beds 4 baths ∙ 2,813 Sqft ∙ Built 1993 3 beds 4 baths ∙ 2,813 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.81
    •  
  • 304 Wisteria Way Red Oak, TX 1
    • 4 beds 3 baths ∙ 2,821 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,821 Sqft ∙ Built 2010
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.78
    •  
  • 321 Village Drive Red Oak, TX 2
    • 3 beds 3 baths ∙ 2,711 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,711 Sqft ∙ Built 2007
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.82
    •  
  • 219 Jacob Court Glenn Heights, TX 4
    • 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2001
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,285
    • $0.78
    •  
  • 1908 Willow Bend Drive Oak Leaf, TX 5
    • 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 2004
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.88
    •  
PROPERTY LISTING DETAILS
Denise Cook
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480066
Last Updated: 12/04/2020
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