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177 Royal Park Lane Waxahachie, TX 75165

3 Beds 2 Baths 2,159 sqft Built 1997

$339,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $157.02
  • 2 Days on Market
  • MLS # : 14465428
  • Updated Date : 11/07/2020 at 17:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,159 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

LOCATION & SPACE. Country home & guesthouse (no city taxes) on 2 acres along a quiet dead-end road 25 minutes from Dallas. Main house offers great curb appeal with a professionally landscaped front yard and sprinkler system. The interior features an open floor plan, fireplace, crown molding and roomy bedrooms. Recent updates include energy-efficient windows, a remodeled kitchen with replaced dishwasher and microwave and updated bathrooms. Flooring updated in the laundry and bedrooms. Roof replaced (2016). 800 SF guesthouse for home office, game room, rental or shop. Oversized garage with built-in storage. Both homes feature covered back patios. Backyard has a large shed and fenced area for pets. Home warranty.

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: Royal Park Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k336k

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

Neighborhood: Royal Park Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10122174

* 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
Shackelford Elementary School Primary Regular 594 36 7
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Shackelford Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 36
7
GreatSchools Rating

Howard Junior High School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 62
6
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,251
Property Tax -$566
Property Insurance -$152
Property Management Fees -$99
CASH FLOW
-$98

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.

$339,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.1%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,491

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,997

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8004$1,9705$1,995
$1,995
RENT COMPS ANALYSIS
  • 177 Royal Park Lane Waxahachie, TX 4
    • 3 beds 2 baths ∙ 2,159 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,159 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.91
    •  
  • 119 Tranquillity Lane Waxahachie, TX 1
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2005
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 106 Wellington Court Waxahachie, TX 2
    • 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2002
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 318 Janis Lane Waxahachie, TX 3
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1993
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 710 Adams Street Waxahachie, TX 5
    • 4 beds 3 baths ∙ 2,187 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,187 Sqft ∙ Built 2008
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.91
    •  
PROPERTY LISTING DETAILS
Teresa Mcniel
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465428
Last Updated: 11/07/2020
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