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5457 Southfork Drive Royse City, TX 75189

3 Beds 2 Baths 1,471 sqft Built 2002

$287,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $195.72
  • 3 Days on Market
  • MLS # : 14531275
  • Updated Date : 03/20/2021 at 21:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,471 sqft
  • Baths : 2 full
Listing Agent

M&d Real Estate

Listing Agent's Description

BEAUTIFUL CORNER LOT, sitting on highest point in neighborhood, just over 2 acres! No HOA in this friendly close knit community! Spacious open concept layout in kitchen and living area. Tons of natural light, cozy pellet burner stove in Living Room, separate master ensuite with 5 piece bath and walk in closet. Outdoors offers 31’ x 15’ covered back patio, 40’ x 15’ RV parking slab with electric hookups, tower with FREE HIGH SPEED INTERNET, plus 22’ x 18’ heated and cooled seal tight insulated shop! Currently being used for business but will be a blank canvas for buyers upon move in. Create a mother in law quarters, man cave, game room or even an air bnb spot! Please see attached docs for full list of features!

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: 75189

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Zip Code: 75189

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
Caddo Mills High School High Regular 447 33 6

Caddo Mills High School

  • Education Level: High
  • # of students: 447
  • # of teachers: 33
6
GreatSchools Rating
 

$259,110$316,690$287,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,000
Property Tax -$580
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
-$221

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.

$287,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,044

INVESTMENT

$82,044

Down Payment
$71,975
Rehab Estimate
$5,750
Closing Costs
$4,319

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,000

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,975
Loan Amount $215,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5953$1,6004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 5457 Southfork Drive Royse City, TX 1
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.07
    •  
  • 1817 Berrywood Drive Royse City, TX 2
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2011
    property image
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
  • 1300 Silver Maple Lane Royse City, TX 3
    • 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 2008
    property image
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.14
    •  
  • 1320 Silver Maple Lane Royse City, TX 4
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 2014
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.15
    •  
  • 1821 Berrywood Drive Royse City, TX 5
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2009
    property image
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
PROPERTY LISTING DETAILS
Danny Perez
M&d Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531275
Last Updated: 03/20/2021
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