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204 Utopia Court Keller, TX 76248

5 Beds 4 Baths 3,177 sqft Built 2021

$729,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $229.46
  • 2 Days on Market
  • MLS # : 14537000
  • Updated Date : 03/20/2021 at 18:02
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,177 sqft
  • Baths : 4 full
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

OPEN HOUSE at 8540 Fresh Meadows, NRH - MODEL HOME - Mar 21, 1-3pm. COME BUILD YOUR DREAM HOME! Beautiful 4 Bedroom, 4 Bath with Game room and optional study or 5th bedroom. Breathtaking views from covered patio in backyard facing water feature and pond. Minutes from Target, restaurants, Home Depot, Starbucks and so much more! COMPLETION DATE Aug 2021.

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: 76248

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Zip Code: 76248

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262728

* 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
Willis Lane Elementary School Primary Regular 486 33 10
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Willis Lane Elementary School

  • Education Level: Primary
  • # of students: 486
  • # of teachers: 33
10
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$656,100$801,900$729,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,532
Property Tax -$1,530
Property Insurance -$211
HOA -$83
Property Management Fees -$99
CASH FLOW
-$1,925

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$729,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$195,185

INVESTMENT

$195,185

Down Payment
$182,250
Rehab Estimate
$2,000
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,532

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$4,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,462

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,2003$2,2504$2,3505$2,530
$2,530
RENT COMPS ANALYSIS
  • 204 Utopia Court Keller, TX 5
    • 5 beds 4 baths ∙ 3,177 Sqft ∙ Built 2021 5 beds 4 baths ∙ 3,177 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.80
    •  
  • 5701 Fountain Flat Drive Fort Worth, TX 1
    • 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 2010
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.73
    •  
  • 5825 Haven Lake Way Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2011
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 5813 Valley Haven Way Fort Worth, TX 3
    • 4 beds 4 baths ∙ 2,857 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,857 Sqft ∙ Built 2012
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.79
    •  
  • 5204 Briar Forest Road Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 2006
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.83
    •  
PROPERTY LISTING DETAILS
Heidi Ferrell
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537000
Last Updated: 03/20/2021
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