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1216 Honeywood Lane Royse City, TX 75189

3 Beds 2 Baths 1,381 sqft Built 2014

$215,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $155.68
  • 3 Days on Market
  • MLS # : 14539763
  • Updated Date : 03/27/2021 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,381 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Must See Move in Ready!! Gorgeous 3 bedroom 2 bathroom single story brick and stone home, located in sought after Verandah neighborhood. Functional split floor plans with plenty of storage and large living spaces. Nicely sized master bedroom and bathroom which features a walk in closet and separate shower and dual sinks. Beautiful granite counter tops in the kitchen along with stainless steel appliances and separate pantry! Landscape easy to maintain lot with sprinkler system and room for outdoor living. Neighborhood features community pool, pond, playground, and more. Quick access to I-30 and located between Dallas and Greenville makes this home great for commuting in any direction.

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

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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$747
Property Tax -$585
Property Insurance -$107
HOA -$43
Property Management Fees -$99
CASH FLOW
-$131

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.

$215,000

PROJECTED PRICE

$1,450

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,558

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,564

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,6254$1,6255$1,630
$1,630
RENT COMPS ANALYSIS
  • 1216 Honeywood Lane Royse City, TX 1
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
  • 1320 Silver Maple Lane Royse City, TX 2
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 2014
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.15
    •  
  • 1613 Applegate Way Royse City, TX 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2012
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.16
    •  
  • 1712 River Oak Lane Royse City, TX 4
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2014
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.16
    •  
  • 1309 Alder Tree Lane Royse City, TX 5
    • 4 beds 3 baths ∙ 1,532 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,532 Sqft ∙ Built 2013
    LEASED 03/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.06
    •  
PROPERTY LISTING DETAILS
Kanetha Pope
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539763
Last Updated: 03/27/2021
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