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2442 Brookside Drive Royse City, TX 75189

3 Beds 2 Baths 2,314 sqft Built 2021

$350,342

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $151.40
  • 5 Days on Market
  • MLS # : 14490133
  • Updated Date : 12/23/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,314 sqft
  • Baths : 2 full
Listing Agent

Classic Property Management

Listing Agent's Description

Brand New Home by Bloomfield Homes, Completely Move-in Ready May 2021! This charming one-story has a brick & stone exterior and 3 beds, 2 baths. Sitting on an Oversize Homesite! Luxury Vinyl Flooring throughout entire home. Deluxe Kitchen with SS Appliances, Gas cooking, and a walk-in pantry. Upgraded Tiles & Accents. Stone Floor to Ceiling Fireplace. Enlarged Covered Rear Patio and Enlarged Garage with workspace. Window coverings included. Home also comes fully fenced, landscaped and with sprinkler system installed. Located in amazing Waterscape subdivision with so many amenities - Club House, Pool, Playground and more! Call today to learn more.

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
Fort Elementary School Primary Regular 555 41 8
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

Fort Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 41
8
GreatSchools Rating

Royse City Middle School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 47
6
GreatSchools Rating

Royse City High School

  • Education Level: High
  • # of students: 1,410
  • # of teachers: 88
5
GreatSchools Rating
 

$315,308$385,376$350,342

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,293
Property Tax -$765
Property Insurance -$161
HOA -$46
Property Management Fees -$99
CASH FLOW
-$223

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.

$350,342

PROJECTED PRICE

$2,140

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,841

INVESTMENT

$94,841

Down Payment
$87,586
Rehab Estimate
$2,000
Closing Costs
$5,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,293

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,586
Loan Amount $262,757
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,981

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,193

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0953$2,1004$2,1005$2,140
$2,140
RENT COMPS ANALYSIS
  • 2442 Brookside Drive Royse City, TX 5
    • 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.92
    •  
  • 403 Shiplap Lane Royse City, TX 1
    • 4 beds 3 baths ∙ 2,074 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,074 Sqft ∙ Built 2018
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 2038 Brookside Drive Royse City, TX 2
    • 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 2019
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.01
    •  
  • 202 Waxberry Drive Royse City, TX 3
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2019
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 411 Burr Lane Fate, TX 4
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2020
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490133
Last Updated: 12/23/2020
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