Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

445 Petty Way Fate, TX 75087

4 Beds 4 Baths 1,838 sqft Built 2021

$260,499

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $141.73
  • 4 Days on Market
  • MLS # : 14483964
  • Updated Date : 12/12/2020 at 19:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,838 sqft
  • Baths : 2 full , 2 half
Listing Agent

Wendell Miller Realty

Listing Agent's Description

Coveted Serenade plan with no neighbors behind! 4 bedroom one story home with smart home features for remote learning or work from home. California flat island in this open concept kitchen with a gorgeous, modern kitchen with granite countertops, and white cabinets with white subway tile backsplash. Wood looking rigid core plank level 3 vinyl flooring in a neutral brown. Double sinks in the owner's suite with quartz countertops and enlarged shower with linen closet. Move-In Ready in January. Showing from Woodcreek Community in Fate. See Showing instructions & Driving Directions.

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: 75087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75087

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
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
 

$234,449$286,549$260,499

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 -$961
Property Tax -$470
Property Insurance -$133
HOA -$38
Property Management Fees -$99
CASH FLOW
$228

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.

$260,499

PROJECTED PRICE

$1,930

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,032

INVESTMENT

$71,032

Down Payment
$65,125
Rehab Estimate
$2,000
Closing Costs
$3,907

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$961

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,125
Loan Amount $195,374
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$42,440

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
  • $1.05

    LIST RENT PER SQFT
  • $1,866

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8504$1,9305$2,100
$2,100
RENT COMPS ANALYSIS
  • 445 Petty Way Fate, TX 4
    • 4 beds 4 baths ∙ 1,838 Sqft ∙ Built 2021 4 beds 4 baths ∙ 1,838 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.05
    •  
  • 2130 Slow Stream Drive Royse City, TX 1
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2018
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 104 Waxberry Drive Royse City, TX 2
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2019
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 2525 Sabine Circle Royse City, TX 3
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 2016
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 411 Burr Lane Fate, TX 5
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2020
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Wendell Miller
Wendell Miller Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483964
Last Updated: 12/12/2020
BESbswy