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110 Stevenson Drive Fate, TX 75087

4 Beds 2 Baths 2,032 sqft Built 2013

$279,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $137.75
  • 3 Days on Market
  • MLS # : 14476227
  • Updated Date : 11/27/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,032 sqft
  • Baths : 2 full
Listing Agent

Pinnacle Realty Advisors

Listing Agent's Description

LIGHT, BRIGHT, AND PRICED FOR QUICK SELL! Generously sized spaces with room to breathe. MASSIVE kitchen with enough room to park a truck. 3 LARGE BEDROOM SUITES. Bonus sized master retreat with large walk-in closet plus expansive master bath. Enjoy your very own private backyard! New flooring & ceramic tile throughout including designer paint selections. HARD SURFACED FLOORING including the master. Comfortable & roomy in highly sought after Woodcreek. WAITING ON THIS ONE WILL COST YOU!!

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

Neighborhood: Woodcreek

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Woodcreek

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8882171

* 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
Billie Stevenson Elementary School Primary Unknown 526 35 NA
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

Billie Stevenson Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 35
NA
GreatSchools Rating

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,033
Property Tax -$478
Property Insurance -$145
HOA -$47
Property Management Fees -$99
CASH FLOW
$149

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.

$279,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$30,495

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,905

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8953$1,9494$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 110 Stevenson Drive Fate, TX 4
    • 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
  • 915 Mangrove Drive Fate, TX 1
    • 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2008
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 317 Blackhaw Drive Fate, TX 2
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2009
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 914 Mangrove Drive Fate, TX 3
    • 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2011
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $0.89
    •  
  • 532 La Grange Drive Fate, TX 5
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2016
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Ryan Mclemore
Pinnacle Realty Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476227
Last Updated: 11/27/2020
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