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188 Hampton Drive Fate, TX 75087

4 Beds 3 Baths 3,033 sqft Built 2006

$329,900

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $108.77
  • 5 Days on Market
  • MLS # : 14499143
  • Updated Date : 01/14/2021 at 11:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,033 sqft
  • Baths : 3 full
Listing Agent

Segars Realty Group

Listing Agent's Description

Stunning Fate Home located in Rockwall ISD! Home Enjoys New Roof 2019, Added Solar Screens 2019, New HVAC Furnace 2020, 2 New Hot Water Heaters 2020, New Laminate Flooring 2019, New Fence 2019. Home Greets you to a Grand Foyer with Tall Ceilings and Iron Spiral Staircase. Flowing Floor Plan with Split Bedrooms, Game Room, Media Room, Large Master Area That’s Perfect for a Growing Family. Kitchen Enjoys High-End Granite Counter Tops, Decorative Back Splash, 42 in Cabinets, Butler Pantry and Opens up to the Living Room. Big Back Yard with Covered Porch Perfect for Outdoor Living. To Boast Enjoy all that Woodcreek has to Offer Including Clubhouse, Pool, Splash Park, Playgrounds, Dog Park and Pond.

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

Neighborhood: Woodcreek

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Woodcreek

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
Billie Stevenson Elementary School Primary Unknown 526 35 NA
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Billie Stevenson Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 35
NA
GreatSchools Rating

Herman E. Utley Middle School

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

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,146
Property Tax -$737
Property Insurance -$202
HOA -$48
Property Management Fees -$99
CASH FLOW
-$92

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.

$329,900

PROJECTED PRICE

$2,140

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,161

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0503$2,1404$2,1455$2,200
$2,200
RENT COMPS ANALYSIS
  • 188 Hampton Drive Fate, TX 3
    • 4 beds 3 baths ∙ 3,033 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,033 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.71
    •  
  • 413 Sugarberry Lane Fate, TX 1
    • 5 beds 2 baths ∙ 2,972 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,972 Sqft ∙ Built 2006
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.66
    •  
  • 601 Fireberry Drive Fate, TX 2
    • 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.67
    •  
  • 111 Gaines Court Fate, TX 4
    • 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2007
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.73
    •  
  • 308 Chinaberry Lane Fate, TX 5
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
PROPERTY LISTING DETAILS
Quinn Segars
Segars Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499143
Last Updated: 01/14/2021
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