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305 Mistflower Lane Fate, TX 75087

3 Beds 2 Baths 1,849 sqft Built 2010

$225,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $121.69
  • 3 Days on Market
  • MLS # : 14492594
  • Updated Date : 01/02/2021 at 05:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,849 sqft
  • Baths : 2 full
Listing Agent

Janet Martin Realty

Listing Agent's Description

*READY TO MOVE-IN* 3 BEDROOM, 2 BATH BRICK HOME, located in quiet neighborhood in Fate, Texas in GREAT CONDITION!! Features include a large living area with brick fireplace, separate dining area, kitchen with lots of cabinets (appliances included), plus a LARGE walk-in pantry. Kitchen also has space for a freezer & small breakfast table. In the spacious master retreat, there is room for a sitting area & nice touches such as raised ceilings, HUGE walk-in closet, bath with separate shower & a garden tub. Each guest bedroom also has plenty of closet space. Outside, landscaping gives great curb appeal. The privacy fenced backyard is easy to upkeep. A coveted area with a quick commute to DFW & only 5 minutes to I30!

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: 75087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75087

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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$830
Property Tax -$384
Property Insurance -$134
HOA -$32
Property Management Fees -$99
CASH FLOW
$110

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.

$225,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$23,364

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,586

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5903$1,5954$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 305 Mistflower Lane Fate, TX 2
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.86
    •  
  • 401 Blue Sage Drive Fate, TX 1
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2009
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.82
    •  
  • 314 Coneflower Drive Fate, TX 3
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2010
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 300 Blue Sage Drive Fate, TX 4
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2009
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 601 Azalea Drive Fate, TX 5
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2009
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
PROPERTY LISTING DETAILS
Tom Hendricks
Janet Martin Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492594
Last Updated: 01/02/2021
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