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2408 Rocky Mountain Royse City, TX 75189

5 Beds 4 Baths 2,929 sqft Built 2021

$317,400

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $108.36
  • 3 Days on Market
  • MLS # : 14500632
  • Updated Date : 01/15/2021 at 11:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,929 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

The Topaz floor plan encompasses nearly 3,000 square feet in a 5-bedroom, 3.5-bath home design. The first-floor primary suite is off the open living area and the second-floor game room lets family members escape upstairs for their own activities. Warm by day and cool at night, this desert-inspired palette can be seen in the mottled colors in the speckled granite countertops. Feel the combined soft contrasts of gray cabinetry and walls with beige carpets and white accents. Discover the small-town lifestyle of Royse City, where neighbors take pride in their town. When you live at Parkside Village, you have the added benefits of a fishing pier, pool, landscaped walking trails. Estimated completion March 2021...

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$285,660$349,140$317,400

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,102
Property Tax -$693
Property Insurance -$196
HOA -$46
Property Management Fees -$99
CASH FLOW
-$147

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.

$317,400

PROJECTED PRICE

$1,990

PROJECTED RENT

0.63%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$86,111

INVESTMENT

$86,111

Down Payment
$79,350
Rehab Estimate
$2,000
Closing Costs
$4,761

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,102

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,350
Loan Amount $238,050
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,919

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8603$1,990
$1,990
RENT COMPS ANALYSIS
  • 2408 Rocky Mountain Royse City, TX 3
    • 5 beds 4 baths ∙ 2,929 Sqft ∙ Built 2021 5 beds 4 baths ∙ 2,929 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.68
    •  
  • 1409 Laurel Lane Royse City, TX 1
    • 5 beds 3 baths ∙ 2,975 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,975 Sqft ∙ Built 2006
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.60
    •  
  • 549 Laurel Lane Fate, TX 2
    • 4 beds 3 baths ∙ 2,609 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,609 Sqft ∙ Built 2007
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.71
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500632
Last Updated: 01/15/2021
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