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307 Sweetspire Royse City, TX 75189

4 Beds 2 Baths 2,064 sqft Built 2021

$334,534

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $162.08
  • 3 Days on Market
  • MLS # : 14514247
  • Updated Date : 02/06/2021 at 09:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,064 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14514247 - Built by Altura Homes - July completion! ~ UNDER CONSTRUCTION PROJECTED in JULY - model available to tour. Albany has amazing curb appeal with soaring roof pitches and beautiful architectural details. The backyard is perfect for entertaining with a large space and views of the fountain and pond. The interior is light and bright with 42 white cabinets and granite in the kitchen. The color scheme is white and gray making this home feel open and spacious throughout. The master suite is stunning with an oversized separate shower and large garden bathtub. Don't miss out on the is home. It will not last long!

SEE MORE

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
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
 

$301,081$367,987$334,534

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,162
Property Tax -$730
Property Insurance -$146
HOA -$41
Property Management Fees -$99
CASH FLOW
-$339

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.

$334,534

PROJECTED PRICE

$1,840

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,652

INVESTMENT

$90,652

Down Payment
$83,634
Rehab Estimate
$2,000
Closing Costs
$5,018

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,634
Loan Amount $250,901
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,821

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6253$1,8004$1,8255$1,840
$1,840
RENT COMPS ANALYSIS
  • 307 Sweetspire Royse City, TX 5
    • 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.89
    •  
  • 2701 Mockingbird Street Royse City, TX 1
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 2005
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.81
    •  
  • 2809 Mockingbird Street Royse City, TX 2
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2006
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.84
    •  
  • 921 Orchid Boulevard Royse City, TX 3
    • 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 2009
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 3133 Honeycomb Way Royse City, TX 4
    • 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 2018
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.98
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514247
Last Updated: 02/06/2021
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