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1513 Kelly Lane Royse City, TX 75189

3 Beds 2 Baths 1,344 sqft Built 2003

$193,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $143.60
  • 2 Days on Market
  • MLS # : 14509566
  • Updated Date : 01/30/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Move in READY! Located close by I-30, close to downtown fun, food and shopping. No HOA. Spacious rooms, open floor plan, high living room ceilings, niches in living room for display. Kitchen has a bay window with eat in dining space, light wood laminate flooring. New Microwave, Stove, countertop and sink in kitchen. New HVAC in 2020, Dishwasher and disposal in 2019. Carpet and bathroom flooring in 2019. Paint refreshed. Refrigerator, washer and dryer can be included with appropriate offers. This home is a must see.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
Scott Elementary School Primary Regular 506 34 5
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

Scott Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 34
5
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
 

$173,700$212,300$193,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$670
Property Tax -$421
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
$184

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.

$193,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.77%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,895

INVESTMENT

$56,895

Down Payment
$48,250
Rehab Estimate
$5,750
Closing Costs
$2,895

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$670

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,250
Loan Amount $144,750
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$24,209

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,609

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4503$1,4804$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 1513 Kelly Lane Royse City, TX 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.10
    •  
  • 813 Cooper Lane Royse City, TX 1
    • 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 2002
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.18
    •  
  • 1612 Audrey Drive Royse City, TX 2
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2005
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.18
    •  
  • 1501 Audrey Drive Royse City, TX 4
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2005
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.25
    •  
  • 808 Cooper Lane Royse City, TX 5
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2001
    property image
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.18
    •  
PROPERTY LISTING DETAILS
Stephanie Couron
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509566
Last Updated: 01/30/2021
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