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1209 Honeywood Lane Royse City, TX 75189

4 Beds 3 Baths 2,070 sqft Built 2016

$250,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $120.77
  • 2 Days on Market
  • MLS # : 14527093
  • Updated Date : 03/06/2021 at 18:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,070 sqft
  • Baths : 2 full , 1 half
Listing Agent

Competitive Edge Realty Llc

Listing Agent's Description

Gorgeous 4BR 2.5 BA home with star-gazing balcony and covered porch in front, and covered patio in back! Wood-pattern ceramic tile on the bottom level gives the feeling of wood floors without the stress! The 4th BR on 1st level can be flex-space or office. The FP warms the large family room that is open to the kitchen and dining area. Granite, SS appliances, and tons of cabinets make the kitchen a great place for gathering. The stairs lead to two bedrooms split from the Master Bedroom and feature tray ceilings and large closets. Retreat to the master bathroom with jetted tub and separate shower. Hike-bike trails, park, ponds, and playground invite you to explore the neighborhood. All info must be verified

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
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$868
Property Tax -$504
Property Insurance -$147
HOA -$45
Property Management Fees -$99
CASH FLOW
$228

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.

$250,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.76%

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$900k

PROJECTED ANNUAL CASH FLOW

11530$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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$30,302

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8903$1,9954$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 1209 Honeywood Lane Royse City, TX 2
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.91
    •  
  • 1228 Honeywood Royse City, TX 1
    • 3 beds 3 baths ∙ 1,965 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,965 Sqft ∙ Built 2015
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 1308 River Oak Lane Royse City, TX 3
    • 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2015
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.91
    •  
  • 1324 Land Oak Road Royse City, TX 4
    • 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2014
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 1312 River Oak Lane Royse City, TX 5
    • 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2015
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.91
    •  
PROPERTY LISTING DETAILS
Misty Torres
Competitive Edge Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527093
Last Updated: 03/06/2021
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