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1012 Colonial Drive Royse City, TX 75189

3 Beds 2 Baths 2,138 sqft Built 2007

$285,500

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $133.54
  • 6 Days on Market
  • MLS # : 14487750
  • Updated Date : 12/22/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,138 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Custom Built Home by George Welch in Hidden Creek Subdivision now Available. Beautiful Finishes inside with Brick and Stone Exterior. This 3 bedroom 2 bath 2 car garage w office is a must see. Attention to detail shows with oversized moldings, custom lighting, custom closets, (master closet is 17x6) curved walls and arches. All new plank flooring and carpet in March 2019. Versatile floor plan with great flow, split master, granite in all wet areas, upgraded cabinetry, charming front & back covered porches, gutters, alarm, stone fireplace w gas starter, sprinklers and large back yard. NO MUD or PID taxes. Neighborhood amenities galore! Close to schools, downtown, I30 and Hwy 66.

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

Zip Code: 75189

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Zip Code: 75189

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
Davis Elementary School Primary Regular 476 37 6
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

Davis Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 37
6
GreatSchools Rating

Royse City Middle School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 47
6
GreatSchools Rating

Royse City High School

  • Education Level: High
  • # of students: 1,410
  • # of teachers: 88
5
GreatSchools Rating
 

$256,950$314,050$285,500

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,053
Property Tax -$582
Property Insurance -$151
HOA -$43
Property Management Fees -$99
CASH FLOW
-$108

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.

$285,500

PROJECTED PRICE

$1,820

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,408

INVESTMENT

$81,408

Down Payment
$71,375
Rehab Estimate
$5,750
Closing Costs
$4,283

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,053

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,375
Loan Amount $214,125
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,860

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,565
1$1,5652$1,8203$1,8504$1,8505$1,875
$1,875
RENT COMPS ANALYSIS
  • 1012 Colonial Drive Royse City, TX 2
    • 3 beds 2 baths ∙ 2,138 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,138 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.85
    •  
  • 1413 Waco Turner Royse City, TX 1
    • 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 2014
    property image
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.82
    •  
  • 316 Audobon Lane Royse City, TX 3
    • 3 beds 2 baths ∙ 1,959 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,959 Sqft ∙ Built 2016
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 1933 Glen Meadow Drive Royse City, TX 4
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2019
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 1717 Fair Oaks Lane Royse City, TX 5
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2015
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kim Jones
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487750
Last Updated: 12/22/2020
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