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1609 Applegate Way Royse City, TX 75189

4 Beds 3 Baths 2,132 sqft Built 2012

$252,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $118.20
  • 3 Days on Market
  • MLS # : 14491384
  • Updated Date : 01/01/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,132 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Beautiful 2 story home located in family friendly neighborhood in Royse City with ease of access to Interstate 30. Prepare dinner in the spacious open kitchen without missing the conversation in the adjacent living room. Separate office & dining room greet you, leading to the kitchen or living area. Plenty of storage under the stairs. Rear entry creates an inviting curb appeal as friends and family visit. Upstairs offers 4 bedrooms, 2 full baths & a nook for learning or crafting. Ring doorbell will convey with the home. Located in Verandah offering amenity rich community complete with green spaces, neighborhood pool & splash pad, playground, fishing pond, jogging trails, sand volleyball.

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

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
 

$226,800$277,200$252,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$930
Property Tax -$686
Property Insurance -$150
HOA -$43
Property Management Fees -$99
CASH FLOW
-$39

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.

$252,000

PROJECTED PRICE

$1,870

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$72,530

INVESTMENT

$72,530

Down Payment
$63,000
Rehab Estimate
$5,750
Closing Costs
$3,780

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$930

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,000
Loan Amount $189,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,919

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,9003$1,9954$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 1609 Applegate Way Royse City, TX 1
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.88
    •  
  • 1913 Berrywood Drive Royse City, TX 2
    • 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2018
    property image
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 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
    property image
    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
    property image
    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
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.91
    •  
PROPERTY LISTING DETAILS
Misty Tittle
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491384
Last Updated: 01/01/2021
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