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522 Indian Paintbrush Fate, TX 75087

3 Beds 2 Baths 1,849 sqft Built 2007

$239,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $129.75
  • 2 Days on Market
  • MLS # : 14493128
  • Updated Date : 01/02/2021 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,849 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Charming one owner home in Spring Meadows. Interior features an open floor plan with good size secondary bedrooms, large family room and a formal dining area. Gorgeous wood laminate flooring recently installed throughout with ceramic tile in the wet areas. Plenty of room to have family and friends over with a 10x22 covered deck out back. Master bath features dual sinks, separate shower, garden tub and walk in closet. Close to community schools, shopping and highway access. Come check out this one before it's gone!

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

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
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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$885
Property Tax -$410
Property Insurance -$134
HOA -$32
Property Management Fees -$99
CASH FLOW
$80

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.

$239,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.68%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$21,196

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6404$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 522 Indian Paintbrush Fate, TX 3
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.89
    •  
  • 520 Sundrop Fate, TX 1
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 2007
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 510 Indian Paintbrush Fate, TX 2
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2007
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 506 Azalea Drive Fate, TX 4
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2008
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 517 Azalea Drive Fate, TX 5
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2008
    property image
    LEASED 01/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Spencer Sherrard
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 #: 14493128
Last Updated: 01/02/2021
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