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359 Sweetspire Royse City, TX 75189

3 Beds 2 Baths 1,890 sqft Built 2020

$313,261

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $165.75
  • 5 Days on Market
  • MLS # : 14463296
  • Updated Date : 10/30/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,890 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14463296 - Built by Altura Homes - December completion! ~ The home is situated on a 1-4 acre lot with mature trees creating a beautiful backyard view.. The interior offers a open and bright floor plan. The study is perfect for those working from home or as a playroom! the kitchen is truly gourmet with 42 white cabinets and granite counter tops. And a great breakfast bar with a place for everyone. The flooring throughout the main areas are a tile wood look. The master suite as a large shower and garden tub. The master closet is very large! Plenty of room to store whatever you have to bring. This home will not last. So schedule a community tour 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

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
 

$281,935$344,587$313,261

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,156
Property Tax -$684
Property Insurance -$136
HOA -$41
Property Management Fees -$99
CASH FLOW
-$496

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.

$313,261

PROJECTED PRICE

$1,620

PROJECTED RENT

0.52%

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

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$85,014

INVESTMENT

$85,014

Down Payment
$78,315
Rehab Estimate
$2,000
Closing Costs
$4,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,156

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,315
Loan Amount $234,946
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$15

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,625

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,5954$1,6205$1,750
$1,750
RENT COMPS ANALYSIS
  • 359 Sweetspire Royse City, TX 4
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.86
    •  
  • 617 Preston Drive Royse City, TX 1
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2006
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 2701 Mockingbird Street Royse City, TX 2
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 2005
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.81
    •  
  • 2608 Marsha Lane Royse City, TX 3
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2005
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 2701 Redwood Street Royse City, TX 5
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 2005
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
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 #: 14463296
Last Updated: 10/30/2020
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