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440 Ella Lane Fate, TX 75087

5 Beds 3 Baths 3,060 sqft Built 2021

$334,289

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 14, 2021 RECENTLY ADDED
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

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

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
Harry Herndon Intermediate School Primary Regular 408 27 7
Harry Herndon Intermediate School Middle Regular 408 27 7
Royse City High School High Regular 1,410 88 5

Harry Herndon Intermediate School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 27
7
GreatSchools Rating

Harry Herndon Intermediate School

  • Education Level: Middle
  • # of students: 408
  • # of teachers: 27
7
GreatSchools Rating

Royse City High School

  • Education Level: High
  • # of students: 1,410
  • # of teachers: 88
5
GreatSchools Rating
 

$300,860$367,718$334,289

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$90,587

INVESTMENT

$90,587

Down Payment
$83,572
Rehab Estimate
$2,000
Closing Costs
$5,014

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,161

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,572
Loan Amount $250,717
See What Happens When You Reinvest Cash Flow

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
$1,995
1$1,9952$2,1003$2,1454$2,2005$2,370
$2,370
RENT COMPS ANALYSIS
  • 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
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500132
Last Updated: 01/14/2021
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