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2416 Rocky Mountain Drive Royse City, TX 75189

4 Beds 2 Baths 1,731 sqft Built 2021

$266,814

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $154.14
  • 2 Days on Market
  • MLS # : 14504577
  • Updated Date : 01/23/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,731 sqft
  • Baths : 2 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready April 2021! Unwind in the Callaghan's private main floor primary suite, complete with a sizeable walk-in closet. White cabinets with white pearl quartz, countertops, smoky oak EVP flooring and warm grey carpet in our Crisp 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
 

$240,133$293,495$266,814

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$927
Property Tax -$583
Property Insurance -$127
HOA -$46
Property Management Fees -$99
CASH FLOW
-$141

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.

$266,814

PROJECTED PRICE

$1,640

PROJECTED RENT

0.61%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,706

INVESTMENT

$72,706

Down Payment
$66,704
Rehab Estimate
$2,000
Closing Costs
$4,002

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$927

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,704
Loan Amount $200,111
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,064

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 2416 Rocky Mountain Drive Royse City, TX 2
    • 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.95
    •  
  • 824 Rowdy Drive Royse City, TX 1
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 2002
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 500 Cookston Lane Royse City, TX 3
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 613 Rowdy Drive Royse City, TX 4
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2005
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 520 Sandy Lane Royse City, TX 5
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2006
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
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 #: 14504577
Last Updated: 01/23/2021
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