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1617 Bob Drive Royse City, TX 75189

4 Beds 2 Baths 1,885 sqft Built 2007

$249,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $132.57
  • 2 Days on Market
  • MLS # : 14509907
  • Updated Date : 02/06/2021 at 09:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,885 sqft
  • Baths : 2 full
Listing Agent

Starmark Properties

Listing Agent's Description

Wonderful new listing 4 bedroom home, open floor plan close to school and shopping. Fresh paint and carpet, move-in ready.

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
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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$868
Property Tax -$546
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$19

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.

$249,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.65%

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$9,346

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,6303$1,6754$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 1617 Bob Drive Royse City, TX 2
    • 4 beds 2 baths ∙ 1,885 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,885 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.86
    •  
  • 1700 Bob Drive Royse City, TX 1
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2006
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.83
    •  
  • 824 Cooper Lane Royse City, TX 3
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2001
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.95
    •  
  • 520 Sandy Lane Royse City, TX 4
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2006
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 1124 Courtney Drive Royse City, TX 5
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2003
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Mark Hood
Starmark Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509907
Last Updated: 02/06/2021
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