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461 Price Fate, TX 75087

4 Beds 3 Baths 3,352 sqft Built 2008

$344,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $102.89
  • 6 Days on Market
  • MLS # : 14476973
  • Updated Date : 12/05/2020 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,352 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Multiple Offers; Final offers due on Monday 12-7-2020 at 5 PM. Home site on .5 acre lot in a cul-de-sac! This gorgeous home has an extended covered patio. Seller paid additional for piers under the home when builit.Open concept, kitchen has large island and is open to the living room, off the kitchen nook is a large craft room or play room or school room. Huge master suite that has sitting area and master bath featuring separate vanities, jetted tub, and separate glass shower. Home has a private study, all bedrooms are very spacious with large closets. The second floor features a large living area or game room along with a media room and three bedrooms. Patio has 220 wiring great for hot tub.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
Billie Stevenson Elementary School Primary Unknown 526 35 NA
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Billie Stevenson Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 35
NA
GreatSchools Rating

Herman E. Utley Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 40
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$310,410$379,390$344,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,273
Property Tax -$589
Property Insurance -$221
HOA -$47
Property Management Fees -$99
CASH FLOW
$12

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.

$344,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,149

INVESTMENT

$97,149

Down Payment
$86,225
Rehab Estimate
$5,750
Closing Costs
$5,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,225
Loan Amount $258,675
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$20,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,536

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,2403$2,3504$2,675
$2,675
RENT COMPS ANALYSIS
  • 461 Price Fate, TX 2
    • 4 beds 3 baths ∙ 3,352 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,352 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.67
    •  
  • 601 Fireberry Drive Fate, TX 1
    • 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.67
    •  
  • 5629 Grove Cove Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 3,048 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,048 Sqft ∙ Built 2016
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
  • 101 Equestrian Trail Fate, TX 4
    • 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 2006
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.83
    •  
PROPERTY LISTING DETAILS
Sharon Worthy
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476973
Last Updated: 12/05/2020
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