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2422 Conklin Drive Fate, TX 75189

3 Beds 2 Baths 1,614 sqft Built 2020

INVESTimate

$223,990

List Price

$1,650

$1,485 - $1,815

Rent Est.

$235,973  ( +5.35%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $138.78
  • 3 Days on Market
  • MLS # : 14419515
  • Updated Date : 08/24/2020 at 07:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 2 full
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

New! Super cute, three bedroom, two bath with 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

Zip Code: 75189

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75189

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
 

$201,591$246,389$223,990

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

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

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 $1,650
EXPENSES Loan Payment -$826
Property Tax -$489
Property Insurance -$120
HOA -$47
Property Management Fees -$99
CASH FLOW
$68

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.

$223,990

PROJECTED PRICE

$1,650

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.35%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,357

INVESTMENT

$61,357

Down Payment
$55,998
Rehab Estimate
$2,000
Closing Costs
$3,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,998
Loan Amount $167,993
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$17,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6503$1,6954$1,7005$1,775
$1,775
RENT COMPS ANALYSIS
  • 2422 Conklin Drive Fate, TX 2
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 136 Abelia Drive Fate, TX 1
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2012
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.95
    •  
  • 912 Bald Cypress Drive Fate, TX 3
    • 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 2015
    property image
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 133 Feverbush Drive Fate, TX 4
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2017
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 1112 Decker Drive Fate, TX 5
    • 4 beds 2 baths ∙ 1,561 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,561 Sqft ∙ Built 2017
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.14
    •  
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 #: 14419515
Last Updated: 08/24/2020
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