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160 Stevenson Drive Fate, TX 75087

5 Beds 3 Baths 3,319 sqft Built 2015

$408,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $122.93
  • 2 Days on Market
  • MLS # : 14509538
  • Updated Date : 01/30/2021 at 21:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,319 sqft
  • Baths : 3 full
Listing Agent

Jp & Associates Rockwall

Listing Agent's Description

Beautiful Home offered in Woodcreek in the highly sought after,Rockwall ISD.Home boasts a 3 car garage,study can be used as a 5th bedroom, two+bedrooms downstairs.The home's open concept floorplan is very inviting &it offers a separate formal dining,game room & oversized media room for entertaining!Finishes includes vinyl plank flooring in living areas,hall&study.Kitchen has custom painted cabinetry,walkin pantry,can lighting,granite,SS appl,gas stove,tons of wonderful natural light.Other features include iron spindles on staircase,multiple ceiling fans, a barndoor in master,oversized walk in closet!Walking distance to Elem.Woodcreek offers 3 Pools,a gym,dog prk& ponds.Gutters added all the way around home.

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

Neighborhood: Woodcreek

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Woodcreek

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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$367,200$448,800$408,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$1,417
Property Tax -$911
Property Insurance -$219
HOA -$54
Property Management Fees -$99
CASH FLOW
$40

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.

$408,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,870

INVESTMENT

$113,870

Down Payment
$102,000
Rehab Estimate
$5,750
Closing Costs
$6,120

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,417

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,000
Loan Amount $306,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$19,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,722

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,325
1$2,3252$2,4003$2,6754$2,7405$2,845
$2,845
RENT COMPS ANALYSIS
  • 160 Stevenson Drive Fate, TX 4
    • 5 beds 3 baths ∙ 3,319 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,319 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.83
    •  
  • 204 Campbell Court Fate, TX 1
    • 4 beds 4 baths ∙ 2,970 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,970 Sqft ∙ Built 2013
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.78
    •  
  • 243 Thatcher Drive Fate, TX 2
    • 5 beds 3 baths ∙ 2,977 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,977 Sqft ∙ Built 2016
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 101 Equestrian Trail Fate, TX 3
    • 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 2006
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.83
    •  
  • 832 Mccall Drive Fate, TX 5
    • 4 beds 4 baths ∙ 3,301 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,301 Sqft ∙ Built 2017
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,845
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kelley Hammond
Jp & Associates Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509538
Last Updated: 01/30/2021
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