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328 Deaton Drive Fate, TX 75087

6 Beds 4 Baths 3,412 sqft Built 2007

$395,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $115.77
  • 1 Days on Market
  • MLS # : 14529090
  • Updated Date : 03/13/2021 at 23:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,412 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to Woodcreek! This is a charming community extraordinaire. This executive-style home is an adorable 6 bedroom (or 5 with a stunning office), 3.5 bathroom, 2 story masterpiece that's close to schools, shopping, galleries, museums and restaurants. Visit with friends in your grand backyard space and marvel at the stars as you relax. Take a walk around the community and say Hi to your neighbors, as well as the birds and bunnies that you pass. The family has loved this neighborhood, and especially their home for years, but the heiress to the throne is growing up, so it's time for a change. The family is preparing to move, so the first showing will be on Saturday, March 20, 2021.

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

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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

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

$355,500$434,500$395,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,372
Property Tax -$882
Property Insurance -$224
HOA -$47
Property Management Fees -$99
CASH FLOW
-$244

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.

$395,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,354

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,2253$2,3804$2,750
$2,750
RENT COMPS ANALYSIS
  • 328 Deaton Drive Fate, TX 3
    • 6 beds 4 baths ∙ 3,412 Sqft ∙ Built 2007 6 beds 4 baths ∙ 3,412 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.70
    •  
  • 601 Fireberry Drive Fate, TX 1
    • 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.67
    •  
  • 101 Betty Drive Fate, TX 2
    • 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2002
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.66
    •  
  • 148 Stevenson Drive Fate, TX 4
    • 6 beds 4 baths ∙ 3,712 Sqft ∙ Built 2015 6 beds 4 baths ∙ 3,712 Sqft ∙ Built 2015
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.74
    •  
PROPERTY LISTING DETAILS
Eric Houston
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529090
Last Updated: 03/13/2021
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