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115 W Gail Lane Royse City, TX 75189

3 Beds 2 Baths 1,904 sqft Built 2003

$239,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $126.00
  • 3 Days on Market
  • MLS # : 14513405
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full
Listing Agent

Re/max-3d Real Estate

Listing Agent's Description

3 bedroom , 2 bath , with an upstairs office that could be a 4th bedroom . Located in the Historic District, 2 blocks from the City Lake Park , 3 blocks from the Historic Downtown Royse City where you will find restaurants, boutiques , Ice Cream Shop and summer concerts at the famous Cookston Court.

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: 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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$833
Property Tax -$524
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
$7

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.

$239,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$10,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,785

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7753$1,8504$1,8955$1,995
$1,995
RENT COMPS ANALYSIS
  • 115 W Gail Lane Royse City, TX 1
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 1305 Waco Turner Royse City, TX 2
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2014
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.94
    •  
  • 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
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 1809 Strongbark Drive Royse City, TX 4
    • 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2020
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 1905 Strongbark Drive Royse City, TX 5
    • 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2020
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ed Nichol
Re/max-3d Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513405
Last Updated: 02/05/2021
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