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1708 Pena Drive Royse City, TX 75189

3 Beds 2 Baths 1,797 sqft Built 2007

$220,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $122.43
  • 3 Days on Market
  • MLS # : 14479699
  • Updated Date : 12/12/2020 at 08:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,797 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

This Beautifully Landscaped, Single-Story HOME with Covered Front Porch defines Comfort and Style! Nestled on an Inside Corner Lot with a Large Side Yard, IT is convenient to Nearby Schools and Shopping! The Great Floor Plan with High Ceilings has Two Living-Dining Areas and is anchored by a Wood-Burning Fireplace! The Open Kitchen with nearby Breakfast Area is complimented by ALL updated Equipment in 2017! New Roof and HVAC in 2016! Glass Barn Door in Master Suite opens to a Stylish Kolher Walk-In Spa-Jetted Tub with Heated Seats! And, a Stand-Alone Tiled Shower! Ceiling Fans and Decorative Lighting add to the Warmth and Ambiance! Recent Faux Wood Floor Tile, Carpet, Paint, and Wooden Backyard Fence in 2017.

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
Harry Herndon Intermediate School Primary Regular 408 27 7
Harry Herndon Intermediate School Middle Regular 408 27 7
Royse City High School High Regular 1,410 88 5

Harry Herndon Intermediate School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 27
7
GreatSchools Rating

Harry Herndon Intermediate School

  • Education Level: Middle
  • # of students: 408
  • # of teachers: 27
7
GreatSchools Rating

Royse City High School

  • Education Level: High
  • # of students: 1,410
  • # of teachers: 88
5
GreatSchools Rating
 

$198,000$242,000$220,000

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 -$812
Property Tax -$480
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
$108

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.

$220,000

PROJECTED PRICE

$1,630

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$21,776

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
  • $0.91

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6304$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 1708 Pena Drive Royse City, TX 3
    • 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.91
    •  
  • 224 Cookston Lane Royse City, TX 1
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2006
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 409 Cookston Lane Royse City, TX 2
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2005
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 2016 Jessica Way Royse City, TX 4
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2008
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 1505 Lorena Drive Royse City, TX 5
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2005
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
PROPERTY LISTING DETAILS
Michael Copeland
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479699
Last Updated: 12/12/2020
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