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501 Royal Glade Drive Keller, TX 76248

5 Beds 4 Baths 4,566 sqft Built 2009

$750,000

List Price

$3,640

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $164.26
  • 4 Days on Market
  • MLS # : 14507318
  • Updated Date : 01/29/2021 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,566 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mersal Realty

Listing Agent's Description

Spectacular home in Marshall Ridge, only 400 ft. from award winning elementary school. Unique floor plan for this corner lot Meritage Home. *SEE uploaded list of upgrades* 22' Ceiling entry with hand scraped flooring, upgraded iron spiral staircase, extended metal roof and patios , double iron gate with stone columns, custom built Koi pond with waterfall, added elevation with Austin stone, 10' ceilings, 8' solid wood doors, Iron entry door, custom built-ins, landscaping, 33 trees, spacious grounds with waterfalls, Wet bar with built in fridge, Chefs kitchen with upgraded appliances, motorized blinds in office and game room. This 5 bdrm was converted to a 4+ suite, easy to return to 5 bdrm! MUST SEE!!

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: 76248

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Zip Code: 76248

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262728

* 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
Ridgeview Elementary School Primary Regular 634 42 9
Keller High School High Regular 2,645 145 10
Ridgeview Elementary School Primary Unknown NA

Ridgeview Elementary School

  • Education Level: Primary
  • # of students: 634
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating

Ridgeview Elementary School

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

$675,000$825,000$750,000

PURCHASE PRICE

$3,276$4,004$3,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,640
EXPENSES Loan Payment -$2,605
Property Tax -$1,574
Property Insurance -$291
HOA -$72
Property Management Fees -$99
CASH FLOW
-$1,000

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.

$750,000

PROJECTED PRICE

$3,640

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$38

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,640

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $3,288

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$3,6403$3,700
$3,700
RENT COMPS ANALYSIS
  • 501 Royal Glade Drive Keller, TX 2
    • 5 beds 4 baths ∙ 4,566 Sqft ∙ Built 2009 5 beds 4 baths ∙ 4,566 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $3,640
    • $0.80
    •  
  • 5525 Smokethorn Drive Fort Worth, TX 1
    • 5 beds 4 baths ∙ 4,222 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,222 Sqft ∙ Built 2004
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.64
    •  
  • 2028 Sterling Trace Drive Keller, TX 3
    • 5 beds 4 baths ∙ 4,640 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,640 Sqft ∙ Built 2010
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.80
    •  
PROPERTY LISTING DETAILS
Robbin Somers
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507318
Last Updated: 01/29/2021
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