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3332 Flatiron Drive Royse City, TX 75189

3 Beds 3 Baths 2,239 sqft Built 2021

INVESTimate

$275,900

List Price

$1,670

$1,503 - $1,837

Rent Est.

$290,661  ( +5.35%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2021
  • Price/Sqft : $123.22
  • 8 Days on Market
  • MLS # : 14416795
  • Updated Date : 08/24/2020 at 14:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,239 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mcelroy Team Realty

Listing Agent's Description

This NEW construction Stanley floor plan features AMAZING exterior elevations! The formal dining room gives you plenty of space to entertain or you have the option of changing it to a 4th bedroom or a study. Upstairs is an ample loft space for games or movie nights. The covered patio is standard and allows the party to continue outside! ***February 2020 COMPLETION DATE***PHOTOS ARE REPRESENTATIVE***

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

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
 

$248,310$303,490$275,900

PURCHASE PRICE

$1,503$1,837$1,670

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,018
Property Tax -$602
Property Insurance -$157
HOA -$46
Property Management Fees -$99
CASH FLOW
-$252

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.

$275,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.61%

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) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,114

INVESTMENT

$75,114

Down Payment
$68,975
Rehab Estimate
$2,000
Closing Costs
$4,139

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,018

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,975
Loan Amount $206,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,724

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6504$1,6705$1,749
$1,749
RENT COMPS ANALYSIS
  • 3332 Flatiron Drive Royse City, TX 4
    • 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.75
    •  
  • 325 Ame Lane Royse City, TX 1
    • 4 beds 2 baths ∙ 2,296 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,296 Sqft ∙ Built 2007
    LEASED 05/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 1412 Primrose Lane Royse City, TX 2
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2006
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 429 Cookston Lane Royse City, TX 3
    • 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2005
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 505 Rosemary Drive Royse City, TX 5
    • 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2006
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.83
    •  
PROPERTY LISTING DETAILS
Danny Mcelroy
Mcelroy Team Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416795
Last Updated: 08/24/2020
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