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314 Frost Farm Court Royse City, TX 75189

4 Beds 4 Baths 3,100 sqft Built 2020

$336,907

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $108.68
  • 5 Days on Market
  • MLS # : 14465798
  • Updated Date : 11/04/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,100 sqft
  • Baths : 3 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready January 2021! Try a new recipe in the Bexar’s impressive kitchen, complete with a useful island and large pantry. Umber cabinets with shaded grey granite countertops, brown grey EVP flooring with multi-tone carpet in our Elemental package. Located just a half-hour from downtown Dallas, Frost Farm offers small-town charm, spacious oversized backyards, access to parks and trails, and proximity to employment centers and entertainment. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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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
 

$303,216$370,598$336,907

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,243
Property Tax -$736
Property Insurance -$206
HOA -$36
Property Management Fees -$99
CASH FLOW
-$470

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.

$336,907

PROJECTED PRICE

$1,850

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

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$91,280

INVESTMENT

$91,280

Down Payment
$84,227
Rehab Estimate
$2,000
Closing Costs
$5,054

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,227
Loan Amount $252,680
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$29

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,860

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,850
$1,850
RENT COMPS ANALYSIS
  • 314 Frost Farm Court Royse City, TX 2
    • 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.60
    •  
  • 1409 Laurel Lane Royse City, TX 1
    • 5 beds 3 baths ∙ 2,975 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,975 Sqft ∙ Built 2006
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.60
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465798
Last Updated: 11/04/2020
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