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2418 Conklin Drive Fate, TX 75189

4 Beds 2 Baths 1,836 sqft Built 2020

INVESTimate

$238,990

List Price

$1,640

$1,476 - $1,804

Rent Est.

$248,573  ( +4.01%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $130.17
  • 3 Days on Market
  • MLS # : 14419547
  • Updated Date : 08/24/2020 at 08:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,836 sqft
  • Baths : 2 full
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

New! Nice open floor plan with four bedroom, two baths and a covered patio. 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 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

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
 

$215,091$262,889$238,990

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$882
Property Tax -$522
Property Insurance -$133
HOA -$47
Property Management Fees -$99
CASH FLOW
-$43

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.

$238,990

PROJECTED PRICE

$1,640

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.01%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,332

INVESTMENT

$65,332

Down Payment
$59,748
Rehab Estimate
$2,000
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,748
Loan Amount $179,243
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,031

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
  • $0.89

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6403$1,6504$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 2418 Conklin Drive Fate, TX 2
    • 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.89
    •  
  • 1057 Sewell Drive Fate, TX 1
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2017
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 813 Windflower Drive Fate, TX 3
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2009
    property image
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 111 Waxberry Drive Fate, TX 4
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2017
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
  • 807 Windflower Drive Fate, TX 5
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2009
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
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 #: 14419547
Last Updated: 08/24/2020
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