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427 Hackberry Drive Fate, TX 75087

3 Beds 2 Baths 1,688 sqft Built 2006

$232,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $137.44
  • 3 Days on Market
  • MLS # : 14522378
  • Updated Date : 02/26/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,688 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

SHOWINGS BEGIN SATURDAY 2.27 AT 11AM. Lovely single story home in Woodcreek with 3 bed, 2 baths and formal dining area. This 1 owner home has been immaculately maintained. Paint and flooring replaced in 2020. Kitchen overlooks the family room and breakfast area. Plenty of room to host parties and holiday events with the formal dining area. Spacious master suite with large closet. Wonderful covered patio out back. The Woodcreek Community offers tons of amenities- spend the weekends cooling off in the community pool, take the kids to one of the many playgrounds, or go for a walk on the miles of trails. Located just off of Interstate 30, Dallas is a quick commute! Schedule your showing 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

Neighborhood: Woodcreek

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Woodcreek

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8882171

* 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
May Vernon Elementary School Primary Regular 537 39 7
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

May Vernon Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 39
7
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
 

$208,800$255,200$232,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$806
Property Tax -$518
Property Insurance -$125
HOA -$47
Property Management Fees -$99
CASH FLOW
$125

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.

$232,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,230

INVESTMENT

$67,230

Down Payment
$58,000
Rehab Estimate
$5,750
Closing Costs
$3,480

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,000
Loan Amount $174,000
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$19,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,806

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7204$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 427 Hackberry Drive Fate, TX 3
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.02
    •  
  • 307 Mulberry Drive Fate, TX 1
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 221 Mulberry Lane Fate, TX 2
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2007
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 435 Hackberry Drive Fate, TX 4
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 2007
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 542 Hickory Lane Fate, TX 5
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2004
    property image
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
PROPERTY LISTING DETAILS
Kris Goggans
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522378
Last Updated: 02/26/2021
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