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9805 Pikes Peak Place Oak Point, TX 75068

3 Beds 3 Baths 2,903 sqft Built 2016

$475,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $163.62
  • 2 Days on Market
  • MLS # : 14477809
  • Updated Date : 11/28/2020 at 20:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,903 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Beautiful single story 3 bedrooms, executive study, media room & OVERSIZE 3 car garage w 8.6' doors!! Open floor plan offers an expansive living area with a wall of windows overlooking the outdoor living center. Kitchen features custom cabinets, large island, walk-in pantry, & planning center! Owner suite is oversize with bay window, room for a sitting area and leads to a spa-like bathroom w sit down area, large walk-in closet & an abundant storage spaces. Exceptional backyard with expansive covered! Side yard patio with walkway leading to front. Wildridge is a master planned community with pools, park, hiking-biking trails, trail leading to lake for non-motorized boats. UPGRADED FEATURES LIST ATTACHED!

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
Oak Point Elementary School Primary Regular 617 39 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Oak Point Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 39
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,753
Property Tax -$944
Property Insurance -$195
HOA -$75
Property Management Fees -$99
CASH FLOW
-$666

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.

$475,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.51%

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

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$45

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,613

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,4004$2,7505$2,775
$2,775
RENT COMPS ANALYSIS
  • 9805 Pikes Peak Place Oak Point, TX 3
    • 3 beds 3 baths ∙ 2,903 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,903 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 9617 Oxbow Lane Little Elm, TX 1
    • 4 beds 4 baths ∙ 2,703 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,703 Sqft ∙ Built 2020
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
  • 1616 Clayton Lane Aubrey, TX 2
    • 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2017
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 9820 Forester Trail Oak Point, TX 4
    • 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2018
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 9804 Excursion Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $0.94
    •  
PROPERTY LISTING DETAILS
Tonya Walker
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477809
Last Updated: 11/28/2020
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