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176 Griffin Fate, TX 75189

4 Beds 3 Baths 2,641 sqft Built 2014

$341,300

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $129.23
  • 5 Days on Market
  • MLS # : 14490232
  • Updated Date : 12/23/2020 at 16:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,641 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

FALL IN LOVE WITH THIS GORGEOUS 2 STORY HOME WITH 4 BEDROOMS, 3 FULL BATHROOMS WITH A GAME ROOM! In the living room you will love the high ceilings with gleaming wood type flooring & a wood-burning fireplace! The kitchen is a chef's dream featuring dark wood cabinetry, a thoughtful built-in with wine storage. The kitchen also offers stainless steel appliances, gas cooktop, granite countertops & a large island. The pool-sized backyard is ready to make all of your backyard dreams come true! A terrific neighborhood including community pool, clubhouse, playground, pond, & walking trails. Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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 $123k336k

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

Zip Code: 75189

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
Sharon Shannon Elementary School Primary Regular 580 41 7
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall-heath High School High Regular 2,200 119 8

Sharon Shannon Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 41
7
GreatSchools Rating

Herman E. Utley Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 40
8
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$307,170$375,430$341,300

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,259
Property Tax -$583
Property Insurance -$180
HOA -$63
Property Management Fees -$99
CASH FLOW
$17

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.

$341,300

PROJECTED PRICE

$2,200

PROJECTED RENT

0.64%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$96,195

INVESTMENT

$96,195

Down Payment
$85,325
Rehab Estimate
$5,750
Closing Costs
$5,120

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,259

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,325
Loan Amount $255,975
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$20,641

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,185

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,2003$2,2004$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 176 Griffin Fate, TX 4
    • 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 520 Kensington Place Fate, TX 1
    • 3 beds 4 baths ∙ 2,582 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,582 Sqft ∙ Built 2016
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 209 Campbell Court Fate, TX 2
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 2012
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 116 Pleasant Hill Lane Fate, TX 3
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2015
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 188 Baldwin Drive Fate, TX 5
    • 4 beds 4 baths ∙ 2,737 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,737 Sqft ∙ Built 2014
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490232
Last Updated: 12/23/2020
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