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1112 Corbitt Lane Fate, TX 75189

4 Beds 2 Baths 1,931 sqft Built 2017

$289,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $150.13
  • 5 Days on Market
  • MLS # : 14536278
  • Updated Date : 03/26/2021 at 13:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,931 sqft
  • Baths : 2 full
Listing Agent

Legacy Premier Group

Listing Agent's Description

Impeccable home with upgrades galore on great greenbelt lot! Awesome 3 bedroom home with additional study, formal dining or 4th bedroom, door can be added if requested. Kitchen, with island and granite countertops, is open to spacious living area. Ceiling fans throughout. Oversized garage with shelving. Home features full sprinkler system, exterior lighting, security camera, upgraded hardware throughout. covered patio with fan. Great amenities including 2 community pools, jogging paths, 2 gyms, dog park and clubhouse.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
May Vernon Elementary School Primary Regular 537 39 7
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

May Vernon Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 39
7
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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,007
Property Tax -$734
Property Insurance -$139
HOA -$50
Property Management Fees -$99
CASH FLOW
-$219

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.

$289,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

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

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,863

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8104$1,8505$1,899
$1,899
RENT COMPS ANALYSIS
  • 1112 Corbitt Lane Fate, TX 3
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.94
    •  
  • 965 Decker Drive Fate, TX 1
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2018
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 1084 Decker Drive Fate, TX 2
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2017
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 2301 Carrier Drive Fate, TX 4
    • 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2017
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
  • 1037 Sewell Drive Fate, TX 5
    • 4 beds 2 baths ∙ 1,923 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,923 Sqft ∙ Built 2017
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.99
    •  
PROPERTY LISTING DETAILS
Rebecca Cucovatz
Legacy Premier Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536278
Last Updated: 03/26/2021
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