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347 Sweetspire Royse City, TX 75189

3 Beds 2 Baths 2,120 sqft Built 2020

$322,277

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $152.02
  • 5 Days on Market
  • MLS # : 14463312
  • Updated Date : 10/30/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,120 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14463312 - Built by Altura Homes - December completion! ~ This home is located on a beautiful treed lot.. The view in the backyard is a true oasis! The interior is just as lovely with light color scheme throughout. The flooring is a light tile wood and the kitchen features white 42 cabinets and light granite countertops. The family room is also light and bright with many windows for natural light. The master suite has an oversized shower and garden tub. This home is complete with a game room, study and formal dining room. It really has is all at a great price!!!

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
 

$290,049$354,505$322,277

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,189
Property Tax -$704
Property Insurance -$150
HOA -$41
Property Management Fees -$99
CASH FLOW
-$433

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.

$322,277

PROJECTED PRICE

$1,750

PROJECTED RENT

0.54%

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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,403

INVESTMENT

$87,403

Down Payment
$80,569
Rehab Estimate
$2,000
Closing Costs
$4,834

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,189

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,569
Loan Amount $241,708
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$57

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,786

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,6254$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 347 Sweetspire Royse City, TX 4
    • 3 beds 2 baths ∙ 2,120 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,120 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 2701 Mockingbird Street Royse City, TX 1
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 2005
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.81
    •  
  • 2608 Marsha Lane Royse City, TX 2
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2005
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 2809 Mockingbird Street Royse City, TX 3
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2006
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.84
    •  
  • 921 Orchid Boulevard Royse City, TX 5
    • 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 2009
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
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 #: 14463312
Last Updated: 10/30/2020
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