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121 Lisa Lane Royse City, TX 75189

4 Beds 3 Baths 2,260 sqft Built 2021

$290,243

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $128.43
  • 2 Days on Market
  • MLS # : 14504587
  • Updated Date : 01/22/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,260 sqft
  • Baths : 3 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready April 2021! Sip your morning coffee at the Henderson’s convenient kitchen island overlooking the dining and family rooms. Pebble cabinets with white pearl quartz countertops, grey cool tone EVP flooring and textured carpet in our Cool 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 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
 

$261,219$319,267$290,243

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,008
Property Tax -$634
Property Insurance -$158
HOA -$36
Property Management Fees -$99
CASH FLOW
-$14

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.

$290,243

PROJECTED PRICE

$1,920

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

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

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$78,914

INVESTMENT

$78,914

Down Payment
$72,561
Rehab Estimate
$2,000
Closing Costs
$4,354

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,008

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,561
Loan Amount $217,682
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$10,923

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,876

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7494$1,8505$1,920
$1,920
RENT COMPS ANALYSIS
  • 121 Lisa Lane Royse City, TX 5
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.85
    •  
  • 429 Cookston Lane Royse City, TX 1
    • 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2005
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 1200 Hawthorne Court Royse City, TX 2
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
  • 505 Rosemary Drive Royse City, TX 3
    • 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2006
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.83
    •  
  • 1228 Cyprus Drive Royse City, TX 4
    • 4 beds 4 baths ∙ 2,109 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,109 Sqft ∙ Built 2006
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
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 #: 14504587
Last Updated: 01/22/2021
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