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2340 Rocky Mountain Drive Royse City, TX 75189

4 Beds 3 Baths 2,397 sqft Built 2021

$296,740

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $123.80
  • 2 Days on Market
  • MLS # : 14504580
  • Updated Date : 01/23/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,397 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready April 2021! Prepare dinner at the Matador's convenient kitchen island without missing the conversation in the adjacent great room. Pebble cabinets with shaded grey granite countertops, brown grey EVP flooring with multi-tone carpet in our Elemental package. Whether you’re headed to work or out to dinner, hop on I-30 and be in central Dallas in just over half an hour. Located in Royse City, Parkside Village offers an amenity-rich community complete with green spaces, a neighborhood pool and cabana, playground, and large pond with fishing pier.

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: 75189

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Zip Code: 75189

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$267,066$326,414$296,740

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,031
Property Tax -$648
Property Insurance -$166
HOA -$46
Property Management Fees -$99
CASH FLOW
-$99

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.

$296,740

PROJECTED PRICE

$1,890

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,636

INVESTMENT

$80,636

Down Payment
$74,185
Rehab Estimate
$2,000
Closing Costs
$4,451

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,031

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,185
Loan Amount $222,555
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,927

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,6954$1,7495$1,890
$1,890
RENT COMPS ANALYSIS
  • 2340 Rocky Mountain Drive Royse City, TX 5
    • 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.79
    •  
  • 429 Cookston Lane Royse City, TX 1
    • 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2005
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 504 Ame Lane Royse City, TX 2
    • 3 beds 3 baths ∙ 2,587 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,587 Sqft ∙ Built 2007
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.66
    •  
  • 1200 Hawthorne Court Royse City, TX 3
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
  • 505 Rosemary Drive Royse City, TX 4
    • 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2006
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.83
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504580
Last Updated: 01/23/2021
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