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1324 Sweetgum Drive Royse City, TX 75189

3 Beds 3 Baths 2,336 sqft Built 2014

$255,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $109.16
  • 4 Days on Market
  • MLS # : 14500003
  • Updated Date : 01/21/2021 at 13:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,336 sqft
  • Baths : 2 full , 1 half
Listing Agent

Call It Closed Realty

Listing Agent's Description

Lovely three bedroom home in the popular Verandah subdivision. It has a great floor plan with a spacious living area that opens to the dining room and kitchen. A beautiful fireplace that makes it feel like home! The study opens up to the living area and could be a 4th bedroom! It includes wood like tile and upgraded carpet. Bonus room upstairs can be used as a game room or 2nd living area. Upstairs has a Master suite with a large walk in closet. Located only minutes from I-30. Also features all of Verandah's renowned amenities such as community pool, walking trails, playgrounds, community fitness area and a private pond.

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
 

$229,500$280,500$255,000

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 -$886
Property Tax -$694
Property Insurance -$162
HOA -$43
Property Management Fees -$99
CASH FLOW
$6

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.

$255,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.74%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$9,354

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
  • $0.81

    LIST RENT PER SQFT
  • $2,067

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8903$1,9954$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 1324 Sweetgum Drive Royse City, TX 2
    • 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.81
    •  
  • 1224 Silver Maple Lane Royse City, TX 1
    • 3 beds 3 baths ∙ 2,181 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,181 Sqft ∙ Built 2010
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.84
    •  
  • 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
Delena Radney
Call It Closed Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500003
Last Updated: 01/21/2021
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