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401 Starlight Lane Royse City, TX 75189

4 Beds 2 Baths 2,853 sqft Built 2003

$385,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $134.95
  • 3 Days on Market
  • MLS # : 14499724
  • Updated Date : 01/15/2021 at 15:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,853 sqft
  • Baths : 2 full
Listing Agent

Nada Homes

Listing Agent's Description

No HOA and plenty of elbow room on 1.0 acre with a large work shed-studio which includes two small rooms and a large work area. It currently functions as a photography studio. The home features open concept with connected living, kitchen and breakfast nook. The dining room is separate for formal gatherings. A bay window looking out over the back yard highlights the primary bedroom, with ensuite bath and walk in closet. Three other bedrooms are accessed through a separate hall, allowing privacy for the primary bedroom. With the current state of work and home life, this property offers the ability to separate the two in one location. This home is convenient to I30 near the new Buc-ee's and other shopping.

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
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
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,337
Property Tax -$841
Property Insurance -$192
Property Management Fees -$99
CASH FLOW
-$539

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.

$385,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.50%

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) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$19

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,912

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,9304$2,100
$2,100
RENT COMPS ANALYSIS
  • 401 Starlight Lane Royse City, TX 3
    • 4 beds 2 baths ∙ 2,853 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,853 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.68
    •  
  • 308 Briar Oaks Drive Royse City, TX 1
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2005
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.63
    •  
  • 504 Ame Lane Royse City, TX 2
    • 3 beds 3 baths ∙ 2,587 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,587 Sqft ∙ Built 2007
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.66
    •  
  • 3286 S Fm 548 Royse City, TX 4
    • 3 beds 3 baths ∙ 2,897 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,897 Sqft ∙ Built 1984
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
PROPERTY LISTING DETAILS
Jeremy Males
Nada Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499724
Last Updated: 01/15/2021
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