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9121 Wayne Street Cross Roads, TX 76227

3 Beds 2 Baths 1,373 sqft Built 2014

$225,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $163.87
  • 4 Days on Market
  • MLS # : 14455843
  • Updated Date : 11/06/2020 at 15:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,373 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Open House Saturday 2 to 4pm. Well Cared for 1 Story home in Cross Oak Ranch priced to sell. Accented with extensive Stone Exterior & desirable 3 blocks to the community pool & playground you won’t want to miss this home. The well maintained interior has 3 Bedrooms & 2 Baths with Neutral Colors, Abundant Natural Light & Open Floor Plan. Large Living 18x14 with Wood Burning Fireplace. Island & Granite countertops, a separate pantry & wonderful storage space in spacious kitchen. The Owners Suite is split from other bedrooms with Texas Sized Closet! Garden Tub & Double Vanity are nice additions! Bedrooms 2 and 3 are great for a study or guest rooms. The covered patio is very private & perfect for backyard BBQ!

SEE MORE

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: 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
Denton High School High Regular 2,166 140 6

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

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$830
Property Tax -$434
Property Insurance -$107
HOA -$32
Property Management Fees -$99
CASH FLOW
$38

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

$1,540

PROJECTED RENT

0.68%

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$800k

PROJECTED ANNUAL CASH FLOW

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

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 55% 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

5.5

YEARS SAVED

$15,888

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,538

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5403$1,5504$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 9121 Wayne Street Cross Roads, TX 2
    • 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.12
    •  
  • 8921 Stewart Street Cross Roads, TX 1
    • 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
    •  
  • 521 Wounded Knee Drive Cross Roads, TX 3
    • 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 2015
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.13
    •  
  • 701 Cheyenne Drive Aubrey, TX 4
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2015
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 9225 Wayne Street Cross Roads, TX 5
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2014
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.13
    •  
PROPERTY LISTING DETAILS
Jeffrey Blasko
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14455843
Last Updated: 11/06/2020
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