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4015 Elizabeth Avenue Royse City, TX 75189

4 Beds 4 Baths 3,187 sqft Built 2020

INVESTimate

$366,638

List Price

$2,180

$1,962 - $2,398

Rent Est.

$386,253  ( +5.35%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $115.04
  • 6 Days on Market
  • MLS # : 14418177
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,187 sqft
  • Baths : 4 full
Listing Agent

Classic Property Management

Listing Agent's Description

BEAUTIFUL NEW BLOOMFIELD HOME READY DECEMBER 2020! This 4 bed, 4 bath, 2.5 Car Garage home is situated on an Oversized Cul De Sac lot; Deluxe Kitchen with island, walk-in pantry, and SS appliances; Bedroom 1 with window seat, huge walk-in closet, separate vanities, garden tub and separate shower; Wood burning FIREPLACE in the family room, Stone reaches from floor to ceiling; Wood look Porcelain tile floors in living areas- all of the beauty of wood without the maintenance; Formal Dining Room; Study with French glass doors; Game Room and large secondary bedrooms upstairs; Extended covered patio and FULLY LANDSCAPED, making this home perfect for entertaining inside and out! Call today for your dream home.

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
 

$329,974$403,302$366,638

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,353
Property Tax -$842
Property Insurance -$211
HOA -$46
Property Management Fees -$99
CASH FLOW
-$371

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.

$366,638

PROJECTED PRICE

$2,180

PROJECTED RENT

0.59%

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$99,159

INVESTMENT

$99,159

Down Payment
$91,660
Rehab Estimate
$2,000
Closing Costs
$5,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,353

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,660
Loan Amount $274,979
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$682

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,220

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,1803$2,2254$2,495
$2,495
RENT COMPS ANALYSIS
  • 4015 Elizabeth Avenue Royse City, TX 2
    • 4 beds 4 baths ∙ 3,187 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,187 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.68
    •  
  • 1409 Laurel Lane Royse City, TX 1
    • 5 beds 3 baths ∙ 2,975 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,975 Sqft ∙ Built 2006
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.60
    •  
  • 101 Betty Drive Fate, TX 3
    • 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2002
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.66
    •  
  • 230 Churchill Drive Fate, TX 4
    • 5 beds 5 baths ∙ 3,018 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,018 Sqft ∙ Built 2017
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.83
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418177
Last Updated: 08/22/2020
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