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572 La Grange Drive Fate, TX 75087

5 Beds 3 Baths 2,906 sqft Built 2017

$355,500

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $122.33
  • 2 Days on Market
  • MLS # : 14471638
  • Updated Date : 11/14/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,906 sqft
  • Baths : 3 full
Listing Agent

Results Property Group, Llc

Listing Agent's Description

Wow! This home has it all! Open concept Kitchen and living area with the prettiest eat in breakfast area. Long counter top island for entertaining and serving holiday meals. Kitchen has counter space galore! Laundry room off of the kitchen. The Beautiful entry way opens to the formal dining. This is a Perfect gathering space with a large window to showcase your Christmas Tree. Main bedroom down with white cabinetry double sinks and large walk-in closet. Secondary bedroom down with bathroom. Family room overlooks the backyard with lots of natural light. Upstairs is a kids retreat and plenty of space for a large office or workout room with remaining bedrooms. This home has all the space your family will need!

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

Neighborhood: Woodcreek

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Woodcreek

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
Billie Stevenson Elementary School Primary Unknown 526 35 NA
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

Billie Stevenson Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 35
NA
GreatSchools Rating

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
 

$319,950$391,050$355,500

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,312
Property Tax -$794
Property Insurance -$195
HOA -$42
Property Management Fees -$99
CASH FLOW
-$121

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.

$355,500

PROJECTED PRICE

$2,320

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,958

INVESTMENT

$99,958

Down Payment
$88,875
Rehab Estimate
$5,750
Closing Costs
$5,333

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,312

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,875
Loan Amount $266,625
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,441

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3203$2,4004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 572 La Grange Drive Fate, TX 2
    • 5 beds 3 baths ∙ 2,906 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,906 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.80
    •  
  • 565 Lone Rider Court Rockwall, TX 1
    • 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 2006
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 1250 Hampton Bay Drive Rockwall, TX 3
    • 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2006
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 1036 Shady Lane Drive Rockwall, TX 4
    • 5 beds 3 baths ∙ 2,801 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,801 Sqft ∙ Built 2016
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 1035 High Cotton Lane Rockwall, TX 5
    • 5 beds 3 baths ∙ 2,882 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,882 Sqft ∙ Built 2001
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Christina Satterfield
Results Property Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471638
Last Updated: 11/14/2020
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