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3204 Overstreet Lane Royse City, TX 75189

4 Beds 3 Baths 2,351 sqft Built 2007

INVESTimate

$224,900

List Price

$1,700

$1,530 - $1,870

Rent Est.

$236,932  ( +5.35%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $95.66
  • 7 Days on Market
  • MLS # : 14415790
  • Updated Date : 08/21/2020 at 08:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,351 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

You will love coming home to this move in ready excellent family residence gently nestled on an oversized lot within the sought after Woodland Estates community featuring pool, playground, basketball courts & walking trails. The expansive open concept floorplan is opulently spacious & flows effortlessly boasting an inviting family room that opens to the chef & entertainer's delight kitchen equipped w gorgeous alabaster white cabinetry, new SS range & raised bar seating. The flex room upon entrance makes a perfect formal dining, study or 2nd living. Master Retreat w lovely bath incl a newly tiled shower, soaking tub is conveniently located downstairs. Game room plus 3 BRs are up. New roof, new paint, new carpets

SEE MORE

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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$830
Property Tax -$543
Property Insurance -$163
HOA -$25
Property Management Fees -$99
CASH FLOW
$40

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.

$224,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.35%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$14,026

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,752

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6653$1,6954$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 3204 Overstreet Lane Royse City, TX 5
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 2801 Mockingbird Street Royse City, TX 1
    • 3 beds 3 baths ∙ 2,186 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,186 Sqft ∙ Built 2006
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.70
    •  
  • 2801 Spencer Circle Royse City, TX 2
    • 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 2005
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.69
    •  
  • 3416 Spruce Street Royse City, TX 3
    • 4 beds 2 baths ∙ 2,146 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,146 Sqft ∙ Built 2007
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
  • 3425 Spruce Street Royse City, TX 4
    • 4 beds 2 baths ∙ 2,119 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,119 Sqft ∙ Built 2008
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
PROPERTY LISTING DETAILS
Anastasia Riley
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415790
Last Updated: 08/21/2020
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