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2432 Rocky Mountain Drive Royse City, TX 75189

3 Beds 2 Baths 1,609 sqft Built 2021

INVESTimate

$222,900

List Price

$1,430

$1,287 - $1,573

Rent Est.

$234,825  ( +5.35%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2021
  • Price/Sqft : $138.53
  • 8 Days on Market
  • MLS # : 14416905
  • Updated Date : 08/24/2020 at 11:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,609 sqft
  • Baths : 2 full
Listing Agent

Mcelroy Team Realty

Listing Agent's Description

ESTIMATED COMPLETION DATE JANUARY 2021...Modern 3 bedroom 2 bathroom single story home with a huge living area. All bedrooms are over-sized and the master walk-in closet is enormous!

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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
 

$200,610$245,190$222,900

PURCHASE PRICE

$1,287$1,573$1,430

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-$4.0k-$2.0k$0.0$2.0k$4.0k

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 $1,430
EXPENSES Loan Payment -$822
Property Tax -$487
Property Insurance -$120
HOA -$46
Property Management Fees -$99
CASH FLOW
-$144

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.

$222,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,069

INVESTMENT

$61,069

Down Payment
$55,725
Rehab Estimate
$2,000
Closing Costs
$3,344

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$822

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,725
Loan Amount $167,175
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,440

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4953$1,5554$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2432 Rocky Mountain Drive Royse City, TX 1
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.89
    •  
  • 400 Sandy Lane Royse City, TX 2
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 2005
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 613 Rowdy Drive Royse City, TX 3
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2005
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $0.86
    •  
  • 409 Cookston Lane Royse City, TX 4
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2005
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 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
Danny Mcelroy
Mcelroy Team Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416905
Last Updated: 08/24/2020
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