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527 Indian Paintbrush Drive Fate, TX 75087

3 Beds 2 Baths 1,849 sqft Built 2007

$253,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $137.32
  • 2 Days on Market
  • MLS # : 14514548
  • Updated Date : 02/06/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,849 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Fabulous 3 bedroom, 2 full bathroom single story home in Spring Meadow! Warm wood type flooring throughout entry, dining, and living room. The family-sized living space is open to the kitchen and features a beautiful stone surround wood burning fireplace. The spacious eat-in kitchen features tile flooring and honey-hued cabinetry with additional cabinetry and countertops in the breakfast nook plus a door that leads to the huge backyard. Relax and unwind in the calming primary bedroom with an en-suite bathroom that offers dual sinks, garden tub with a separate shower. Conveniently located to I-30 and 10 minutes to Lake Ray Hubbard.

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 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
May Vernon Elementary School Primary Regular 537 39 7
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

May Vernon Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 39
7
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
 

$228,510$279,290$253,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$882
Property Tax -$434
Property Insurance -$134
HOA -$32
Property Management Fees -$99
CASH FLOW
$39

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.

$253,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.64%

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

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$73,034

INVESTMENT

$73,034

Down Payment
$63,475
Rehab Estimate
$5,750
Closing Costs
$3,809

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$882

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,475
Loan Amount $190,425
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,681

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,618

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6004$1,6205$1,650
$1,650
RENT COMPS ANALYSIS
  • 527 Indian Paintbrush Drive Fate, TX 4
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.88
    •  
  • 520 Sundrop Fate, TX 1
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 2007
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 528 Azalea Drive Fate, TX 2
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2008
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 510 Indian Paintbrush Fate, TX 3
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2007
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 506 Azalea Drive Fate, TX 5
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2008
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514548
Last Updated: 02/06/2021
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