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215 Mulberry Drive Fate, TX 75087

3 Beds 2 Baths 1,963 sqft Built 2007

$240,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $122.26
  • 4 Days on Market
  • MLS # : 14492580
  • Updated Date : 12/31/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,963 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Home Sweet Home! This is an amazing 3 bedroom, 2 bathroom home in Woodcreek. With a bright and open floorplan, there is plenty of room for everyone! Walk into a nice & large dining room to your right, that leads into the open concept kitchen and living area. Kitchen boasts an eat-in breakfast area, lots of cabinet & counter space, a center island and also overlooks the living room, perfect for entertaining! Large master suite includes double vanities in the bathroom, a separate tub & shower and nice walk-in closet. Two secondary bedrooms are split with a large open area, perfect for second living room or office! Covered patio out back & plenty of room for outside activities. Schedule a showing today.

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
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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$886
Property Tax -$536
Property Insurance -$141
HOA -$47
Property Management Fees -$99
CASH FLOW
$62

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.

$240,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.74%

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

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,446

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,772

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7703$1,7954$1,8005$1,945
$1,945
RENT COMPS ANALYSIS
  • 215 Mulberry Drive Fate, TX 2
    • 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.90
    •  
  • 502 Hackberry Drive Fate, TX 1
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2006
    property image
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 504 Maplewood Drive Fate, TX 3
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2006
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 315 Sugarberry Lane Fate, TX 4
    • 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2006
    property image
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 341 Bayberry Drive Fate, TX 5
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2004
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.95
    •  
PROPERTY LISTING DETAILS
Aaron Stokes
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492580
Last Updated: 12/31/2020
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