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980 Sapphire Ridge Oak Point, TX 75068

4 Beds 3 Baths 2,849 sqft Built 2001

$550,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $193.05
  • 2 Days on Market
  • MLS # : 14501051
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,849 sqft
  • Baths : 3 full
Listing Agent

Competitive Edge Realty Llc

Listing Agent's Description

Unique custom log home in desirable Emerald Sound community of Oak Point. Spacious high ceilings, exposed log beams, beautiful half cut log staircase, hand carved railings upstairs overlook the family room. The wood accents on the walls along with the floor to ceiling stone fireplace all add to the ambience of the home's interior. Master suite and one bedroom down. Upstairs is a second living area with 2 more bedrooms and a bath plus a great storage room, could be craft room, sewing room, office. Outdoor space boasts a huge extended patio overlooking the backyard acreage, partially fenced for pets, with a chicken coop and storage building. 450 sq ft unfinished bonus room above the garage. Huge laundry room.

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: Emerald Sound

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k540k

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

Neighborhood: Emerald Sound

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262483

* 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,910
Property Tax -$1,093
Property Insurance -$192
HOA -$17
Property Management Fees -$99
CASH FLOW
-$1,072

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$550,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$41

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,918

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$2,1004$2,240
$2,240
RENT COMPS ANALYSIS
  • 980 Sapphire Ridge Oak Point, TX 4
    • 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.79
    •  
  • 1400 Lakeshore Boulevard Oak Point, TX 1
    • 5 beds 4 baths ∙ 2,960 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,960 Sqft ∙ Built 2018
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.61
    •  
  • 8516 Sagebrush Trail Cross Roads, TX 2
    • 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2006
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 8712 Trailblazer Drive Cross Roads, TX 3
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2013
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
PROPERTY LISTING DETAILS
Cande Green
Competitive Edge Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501051
Last Updated: 01/16/2021
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