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3328 Flatiron Drive Royse City, TX 75189

4 Beds 2 Baths 2,167 sqft Built 2020

$283,400

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $130.78
  • 2 Days on Market
  • MLS # : 14488626
  • Updated Date : 12/18/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,167 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

Easy maintenance single story home has open concept with a study nook. LUXURY features like 2 inch faux-wood blinds, stainless steel appliances, beautiful lighting package, 9-FOOT CEILINGS, QUARTZ or granite counters, PREMIUM carpeting, modern front door with linear glass inserts, CONTEMPORY linear LED fireplace, and much more. Downstairs MASTER SUITE. Covered PATIO and over-sized Primary Suite!! Ultra ENERGY EFFICIENT design includes FOAM INSULATION and tank-less water heater. Ask about our HOME AUTOMATION PACKAGE!! Enjoy a playground, clubhouse, community pool, and walking trails with green belts and mature trees. Come see why Trophy Signature Homes is one of the FASTEST GROWING new home builders in DFW!!!

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

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
Harry Herndon Intermediate School Primary Regular 408 27 7
Harry Herndon Intermediate School Middle Regular 408 27 7
Royse City High School High Regular 1,410 88 5

Harry Herndon Intermediate School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 27
7
GreatSchools Rating

Harry Herndon Intermediate School

  • Education Level: Middle
  • # of students: 408
  • # of teachers: 27
7
GreatSchools Rating

Royse City High School

  • Education Level: High
  • # of students: 1,410
  • # of teachers: 88
5
GreatSchools Rating
 

$255,060$311,740$283,400

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,046
Property Tax -$619
Property Insurance -$152
HOA -$46
Property Management Fees -$99
CASH FLOW
-$142

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.

$283,400

PROJECTED PRICE

$1,820

PROJECTED RENT

0.64%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$77,101

INVESTMENT

$77,101

Down Payment
$70,850
Rehab Estimate
$2,000
Closing Costs
$4,251

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,046

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,850
Loan Amount $212,550
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,056

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,799

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6954$1,7495$1,820
$1,820
RENT COMPS ANALYSIS
  • 3328 Flatiron Drive Royse City, TX 5
    • 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.84
    •  
  • 429 Cookston Lane Royse City, TX 1
    • 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2005
    property image
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 500 Cookston Lane Royse City, TX 2
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1200 Hawthorne Court Royse City, TX 3
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
  • 505 Rosemary Drive Royse City, TX 4
    • 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2006
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.83
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488626
Last Updated: 12/18/2020
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