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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $109.24
- 4 Days on Market
- MLS # : 14500132
- Updated Date : 01/14/2021 at 20:00
CONSTRUCTION
- Beds : 5
- Floor Size : 3,060 sqft
- Baths : 3 full
Listing Agent
Meritage Homes Realty
Listing Agent's Description
Brand NEW energy-efficient home ready May 2021! Skip the theater and enjoy movie night at home from the comfort of the Kessler’s second-story game room. Gray cabinets, salt 'n pepper granite, white geo backsplash, light gray tile and carpet, and oyster oak vinyl in our Posh package. Spend the weekends cooling off in Woodcreek’s community pool. With miles of trails, numerous playgrounds, and a well-equipped clubhouse, everything you need is just a short walk from home. Located just off I-30, Dallas is just over a half hour away. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.
SEE MORE
- # 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
Neighborhood: Woodcreek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Woodcreek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,370 |
| EXPENSES | Loan Payment | -$1,161 |
| Property Tax | -$602 | |
| Property Insurance | -$204 | |
| HOA | -$47 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$257
|
||
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.
$334,289
PROJECTED PRICE
$2,370
PROJECTED RENT
0.71%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 4.0% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$90,587
LOAN DETAILS
$1,161
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $83,572 |
| Loan Amount | $250,717 |
8.67
YEARS SAVED
$41,325
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,370
LIST RENT -
$0.77
LIST RENT PER SQFT
-
$2,303
COMP ESTIMATED VALUE -
$0.75
COMP AVG. RENT PER SQFT
Comps Range
-
440 Ella Lane Fate, TX 5
- 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2021 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2021
- Rent
- Rent Per SQFT
- $2,370
- $0.77
-
421 Hackberry Drive Fate, TX 1
- 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 2006
LEASED 09/03/19- Rent
- Rent Per SQFT
- $1,995
- $0.73
-
203 Tiffany Drive Fate, TX 2
- 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 2017
LEASED 07/19/19- Rent
- Rent Per SQFT
- $2,100
- $0.76
-
111 Gaines Court Fate, TX 3
- 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2007
LEASED 09/09/20- Rent
- Rent Per SQFT
- $2,145
- $0.73
-
308 Chinaberry Lane Fate, TX 4
- 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005
LEASED 01/13/20- Rent
- Rent Per SQFT
- $2,200
- $0.79
PROPERTY LISTING DETAILS
Meritage Homes Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14500132
Last Updated: 01/14/2021
