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9508 Longhorn Lane Oak Point, TX 75068

3 Beds 2 Baths 1,950 sqft Built 2020

$387,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $198.92
  • 7 Days on Market
  • MLS # : 14472439
  • Updated Date : 11/16/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,950 sqft
  • Baths : 2 full
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Home office with French doors set at entry with 11-foot ceiling. Wood look tile flooring throughout. Open kitchen offers center island and corner walk-in pantry. Dining area opens to spacious family room with wall of windows. Private primary suite includes bedroom with wall of windows. Dual vanity, corner garden tub, separate glass-enclosed shower and large walk-in closet in primary bath. Abundant closet space and natural light throughout. Covered backyard patio. Mud room off two-car garage.

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$349,110$426,690$387,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,431
Property Tax -$813
Property Insurance -$140
HOA -$63
Property Management Fees -$99
CASH FLOW
-$796

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$387,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,794

INVESTMENT

$104,794

Down Payment
$96,975
Rehab Estimate
$2,000
Closing Costs
$5,819

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,975
Loan Amount $290,925
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$34

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,755

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6753$1,6954$1,7505$2,000
$2,000
RENT COMPS ANALYSIS
  • 9508 Longhorn Lane Oak Point, TX 4
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 8929 Sierra Trail Cross Roads, TX 1
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2006
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.84
    •  
  • 829 Prairie Cross Roads, TX 2
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2004
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.92
    •  
  • 8920 Yosemite Trail Cross Roads, TX 3
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 2006
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 9120 Cross Oaks Ranch Boulevard Cross Roads, TX 5
    • 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 2016
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Larry Delzell
Britton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472439
Last Updated: 11/16/2020
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