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12932 Kingsgate Drive Rhome, TX 76078

3 Beds 2 Baths 1,599 sqft Built 2007

$220,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $137.59
  • 3 Days on Market
  • MLS # : 14494808
  • Updated Date : 01/08/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,599 sqft
  • Baths : 2 full
Listing Agent

Post Oak Realty

Listing Agent's Description

This beautiful 3 bed 2 bath house is perfect for those wanting to be close to the city but desire a more rural feel. This home boasts of an open floor plan, fresh paint inside and out and a beautiful tree in the front yard. You can host your friends and family around the fire pit in the backyard. This is the perfect place to call home.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Shale Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $92k336k

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

Neighborhood: Shale Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10122171

* 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
Prairie View Elementary School Primary Regular 452 35 4
Chisholm Trail Middle School Middle Regular 899 64 7
Northwest High School High Regular 2,793 170 6

Prairie View Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 35
4
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$764
Property Tax -$457
Property Insurance -$120
HOA -$42
Property Management Fees -$99
CASH FLOW
$28

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.

$220,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.8%
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

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$11,255

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5104$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 12932 Kingsgate Drive Rhome, TX 3
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.94
    •  
  • 12133 Arbor Lake Road Rhome, TX 1
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 12808 Kingsgate Drive Rhome, TX 2
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2008
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.03
    •  
  • 12408 Sunland Avenue Rhome, TX 4
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 12513 Nicholas Place Rhome, TX 5
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 2009
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
PROPERTY LISTING DETAILS
Corey Byrom
Post Oak Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494808
Last Updated: 01/08/2021
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