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124 Baldwin Drive Fate, TX 75189

4 Beds 4 Baths 3,155 sqft Built 2014

$424,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $134.39
  • 1 Days on Market
  • MLS # : 14529471
  • Updated Date : 03/13/2021 at 15:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,155 sqft
  • Baths : 4 full
Listing Agent

Carrasco Real Estate Co.

Listing Agent's Description

WHAT A BEAUTY. Stylish taste on the stone and brick upfront, accompanied by 3 NEW front lanters. 2 car garage, wooden fence in the backyard with extended flagstone patio. Recently upgraded items in the house. BONUS ITEMS STAYING WITH THE HOUSE - ALL appliances & FRIG, alarm camera system with monitor all via WIFI, washer&dryer, & window coverings. Spacious Kitchen with wood cabinets, upgraded granite, upper cab lighting, new dishwasher, new sink faucet, & 3 new pendant lighting, nice island & knook, & electric range. Master bedroom with large bathroom and walk-in closet downstairs. 2nd bed downstairs w.bathroom. Upstairs 2 bed, 2 bath, gameroom, & media room. Bathroom faucets where just updated. Move in ready.

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 $123k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75189

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
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall-heath High School High Regular 2,200 119 8
Rockwall-heath High School High Unknown NA

Herman E. Utley Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 40
8
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$381,600$466,400$424,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,473
Property Tax -$724
Property Insurance -$210
HOA -$38
Property Management Fees -$99
CASH FLOW
-$34

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.

$424,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.59%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,110

INVESTMENT

$118,110

Down Payment
$106,000
Rehab Estimate
$5,750
Closing Costs
$6,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,000
Loan Amount $318,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,698

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4953$2,5104$2,6455$2,685
$2,685
RENT COMPS ANALYSIS
  • 124 Baldwin Drive Fate, TX 3
    • 4 beds 4 baths ∙ 3,155 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,155 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.80
    •  
  • 243 Thatcher Drive Fate, TX 1
    • 5 beds 3 baths ∙ 2,977 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,977 Sqft ∙ Built 2016
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 230 Churchill Drive Fate, TX 2
    • 5 beds 5 baths ∙ 3,018 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,018 Sqft ∙ Built 2017
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.83
    •  
  • 126 Griffin Avenue Fate, TX 4
    • 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2012
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,645
    • $0.89
    •  
  • 494 Oak Hills Lane Fate, TX 5
    • 5 beds 4 baths ∙ 3,022 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,022 Sqft ∙ Built 2013
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,685
    • $0.89
    •  
PROPERTY LISTING DETAILS
Rosie Carrasco Cox
Carrasco Real Estate Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529471
Last Updated: 03/13/2021
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