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109 Lisa Lane Royse City, TX 75189

3 Beds 3 Baths 2,497 sqft Built 2021

$319,540

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $127.97
  • 3 Days on Market
  • MLS # : 14509191
  • Updated Date : 01/29/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,497 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready May 2021! Oversized Cul-de-sac lot! Unwind in the McKinnon’s main level primary suite, complete with a luxurious bath and spacious walk-in closet. White cabinets with sparkly white granite countertops, cool grey EVP flooring with greyish brown carpet in our Distinct package. Located just a half-hour from downtown Dallas, Frost Farm offers small-town charm, spacious oversized backyards, access to parks and trails, and proximity to employment centers and entertainment. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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
Fort Elementary School Primary Regular 555 41 8
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

Fort Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 41
8
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
 

$287,586$351,494$319,540

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 -$1,110
Property Tax -$698
Property Insurance -$172
HOA -$36
Property Management Fees -$99
CASH FLOW
-$364

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.

$319,540

PROJECTED PRICE

$1,750

PROJECTED RENT

0.55%

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) 3.00%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,678

INVESTMENT

$86,678

Down Payment
$79,885
Rehab Estimate
$2,000
Closing Costs
$4,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,110

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,885
Loan Amount $239,655
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$134

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
  • $0.7

    LIST RENT PER SQFT
  • $1,773

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5953$1,6954$1,7505$2,100
$2,100
RENT COMPS ANALYSIS
  • 109 Lisa Lane Royse City, TX 4
    • 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
  • 2801 Mockingbird Street Royse City, TX 1
    • 3 beds 3 baths ∙ 2,186 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,186 Sqft ∙ Built 2006
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.70
    •  
  • 308 Briar Oaks Drive Royse City, TX 2
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2005
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.63
    •  
  • 504 Ame Lane Royse City, TX 3
    • 3 beds 3 baths ∙ 2,587 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,587 Sqft ∙ Built 2007
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.66
    •  
  • 202 Waxberry Drive Royse City, TX 5
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2019
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509191
Last Updated: 01/29/2021
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