Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

315 Cox Drive Fate, TX 75087

4 Beds 3 Baths 2,859 sqft Built 2005

$324,999

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $113.68
  • 4 Days on Market
  • MLS # : 14497301
  • Updated Date : 01/14/2021 at 14:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,859 sqft
  • Baths : 3 full
Listing Agent

Pioneer Dfw Realty, Llc

Listing Agent's Description

This beautifully maintained 4 bedroom & 3 full bath is a must see! The moment you walk through the front door you will fall in love with the rich wood floors, stone accents, spacious floor plan & updated antique white cabinets. This spacious floor plan along with the butler's pantry, ample granite countertop space in the kitchen, game room & media room makes this home perfect for entertaining! Located in the fast growing city of Fate & in the desirable Rockwall ISD (elementary conveniently located in the neighborhood). So much is offered living in Woodcreek you will never want to leave! Amenities include club house, pool, fitness center, catch & release pond, dog park, park, jogging path & so much more!!!

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

Neighborhood: Woodcreek

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Woodcreek

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
Billie Stevenson Elementary School Primary Unknown 526 35 NA
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Billie Stevenson Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 35
NA
GreatSchools Rating

Herman E. Utley Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 40
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$292,499$357,499$324,999

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,129
Property Tax -$726
Property Insurance -$192
HOA -$50
Property Management Fees -$99
CASH FLOW
-$196

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.

$324,999

PROJECTED PRICE

$2,000

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,749
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,987

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$2,0004$2,1455$2,150
$2,150
RENT COMPS ANALYSIS
  • 315 Cox Drive Fate, TX 3
    • 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.70
    •  
  • 715 Hickory Lane Fate, TX 1
    • 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2006
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.66
    •  
  • 413 Sugarberry Lane Fate, TX 2
    • 5 beds 2 baths ∙ 2,972 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,972 Sqft ∙ Built 2006
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.66
    •  
  • 111 Gaines Court Fate, TX 4
    • 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2007
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.73
    •  
  • 423 Florence Drive Fate, TX 5
    • 3 beds 5 baths ∙ 2,936 Sqft ∙ Built 2014 3 beds 5 baths ∙ 2,936 Sqft ∙ Built 2014
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
PROPERTY LISTING DETAILS
Bridget Clower
Pioneer Dfw Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497301
Last Updated: 01/14/2021
BESbswy