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5 Canyon Ridge Drive Fate, TX 75087

4 Beds 3 Baths 3,387 sqft Built 1997

$599,999

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $177.15
  • 4 Days on Market
  • MLS # : 14534942
  • Updated Date : 03/19/2021 at 20:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,387 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

RARE OPPORTUNITY! Backyard opens to 22 acres & a pond so you can live the country life without the upkeep! This home has so many bragging rights...pool, high end appliances, incredible fireplace (in & outside) & outdoor kitchen, spiral staircase, central vac, oversized garage with 2nd story ready for finish-out & community stables, tennis court, basketball, club house & pool! The heart of the home has the most incredible view of the pool, pond & land. The kitchen is a chef's dream & the master suite has a drool worthy ensuite bath & LARGE closet. 1 secondary bedroom down also makes a great office. Upstairs you'll find a gameroom & 2 secondary bedrooms with a j&j bath. Reinforced foundation! Amazing location!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

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

$539,999$659,999$599,999

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,084
Property Tax -$1,025
Property Insurance -$223
HOA -$160
Property Management Fees -$99
CASH FLOW
-$791

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.

$599,999

PROJECTED PRICE

$2,800

PROJECTED RENT

0.47%

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) 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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$46

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,947

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,675
1$2,6752$2,8003$2,8454$2,995
$2,995
RENT COMPS ANALYSIS
  • 5 Canyon Ridge Drive Fate, TX 2
    • 4 beds 3 baths ∙ 3,387 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,387 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.83
    •  
  • 101 Equestrian Trail Fate, TX 1
    • 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 2006
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.83
    •  
  • 832 Mccall Drive Fate, TX 3
    • 4 beds 4 baths ∙ 3,301 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,301 Sqft ∙ Built 2017
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,845
    • $0.86
    •  
  • 202 Windy Lane Rockwall, TX 4
    • 4 beds 4 baths ∙ 3,245 Sqft ∙ Built 1978 4 beds 4 baths ∙ 3,245 Sqft ∙ Built 1978
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.92
    •  
PROPERTY LISTING DETAILS
Amanda Ravetta
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534942
Last Updated: 03/19/2021
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