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305 Doris Drive Royse City, TX 75189

4 Beds 2 Baths 2,199 sqft Built 2015

$255,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $115.96
  • 3 Days on Market
  • MLS # : 14494221
  • Updated Date : 01/09/2021 at 14:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,199 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty Llc

Listing Agent's Description

Multiple offers received! Please send best offers by 6:00 today! Beautiful home that will capture your heart upon entry! Exquisite design elements throughout and a desirable open layout! Hardwood floors, granite countertops, modern lighting fixtures and warm inviting colors. Oversized utility Room and built-in workspace in the garage. This one won't last long! Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Davis Elementary School Primary Regular 476 37 6
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

Davis Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 37
6
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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$886
Property Tax -$520
Property Insurance -$154
HOA -$29
Property Management Fees -$99
CASH FLOW
$202

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$28,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,565
1$1,5652$1,8503$1,8754$1,8905$1,895
$1,895
RENT COMPS ANALYSIS
  • 305 Doris Drive Royse City, TX 4
    • 4 beds 2 baths ∙ 2,199 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,199 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.86
    •  
  • 1413 Waco Turner Royse City, TX 1
    • 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 2014
    property image
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.82
    •  
  • 1933 Glen Meadow Drive Royse City, TX 2
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2019
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 1717 Fair Oaks Lane Royse City, TX 3
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2015
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.83
    •  
  • 1809 Strongbark Drive Royse City, TX 5
    • 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2020
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kelli Barrix
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494221
Last Updated: 01/09/2021
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