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2339 French Street Fate, TX 75189

4 Beds 2 Baths 1,649 sqft Built 2021

$233,990

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
Built 2021 NEW CONSTRUCTION
November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $141.90
  • 8 Days on Market
  • MLS # : 14478337
  • Updated Date : 11/29/2020 at 13:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,649 sqft
  • Baths : 2 full
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

New! Beautiful, four bedroom, two bath. Includes, island kitchen, granite counter tops, LED lighting, full sprinkler system and much more! Located in the very desirable neighborhood of Woodcreek. Neighborhood features two pools, spray park, several playgrounds, walking trails, two fitness centers, and a dog park. Schedule a tour today! Stage 5

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$210,591$257,389$233,990

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$863
Property Tax -$511
Property Insurance -$123
HOA -$47
Property Management Fees -$99
CASH FLOW
$187

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.

$233,990

PROJECTED PRICE

$1,830

PROJECTED RENT

0.78%

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) 3.00%
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$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,007

INVESTMENT

$64,007

Down Payment
$58,498
Rehab Estimate
$2,000
Closing Costs
$3,510

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,498
Loan Amount $175,493
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$33,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,797

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7754$1,8305$1,998
$1,998
RENT COMPS ANALYSIS
  • 2339 French Street Fate, TX 4
    • 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.11
    •  
  • 326 Laurel Lane Fate, TX 1
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2009
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 133 Feverbush Drive Fate, TX 2
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2017
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 1112 Decker Drive Fate, TX 3
    • 4 beds 2 baths ∙ 1,561 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,561 Sqft ∙ Built 2017
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.14
    •  
  • 815 Sitwell Drive Fate, TX 5
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2020
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $1.09
    •  
PROPERTY LISTING DETAILS
Bryan Reasor
Jeanette Anderson Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478337
Last Updated: 11/29/2020
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