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332 Bayberry Drive Fate, TX 75087

3 Beds 2 Baths 1,852 sqft Built 2004

$230,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $124.19
  • 2 Days on Market
  • MLS # : 14509002
  • Updated Date : 01/30/2021 at 23:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,852 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Delightful home in Woodcreek with elementary schools, trails, parks, ponds, 3 pools & clubhouse for your enjoyment! Home offers 2 living and 2 dining areas or optional study, granite countertops with breakfast bar, accent lighting under cabinets, electric start gas-log fireplace, attic storage, custom shelving in laundry room & closets. Lush landscaping with full sprinklers, covered back patio plus a workshop-storage shed with electric in backyard! Carpets recently replaced and fresh paint throughout! Come make this your new home, TODAY!

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

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
May Vernon Elementary School Primary Regular 537 39 7
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

May Vernon Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 39
7
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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$799
Property Tax -$514
Property Insurance -$134
HOA -$45
Property Management Fees -$99
CASH FLOW
$149

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.

$230,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.76%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$21,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,815

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7404$1,8005$1,945
$1,945
RENT COMPS ANALYSIS
  • 332 Bayberry Drive Fate, TX 3
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.94
    •  
  • 364 Bayberry Drive Fate, TX 1
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 368 Bayberry Drive Fate, TX 2
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 352 Bayberry Drive Fate, TX 4
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2004
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 341 Bayberry Drive Fate, TX 5
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2004
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jaclyn Applewhite
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509002
Last Updated: 01/30/2021
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