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601 Silver Chase Drive Keller, TX 76248

5 Beds 4 Baths 3,880 sqft Built 2015

INVESTimate

$559,900

List Price

$3,380

$3,130 - $3,630

Rent Est.

$590,918  ( +5.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $144.30
  • 3 Days on Market
  • MLS # : 14419883
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,880 sqft
  • Baths : 4 full
Listing Agent

The Robinson Team

Listing Agent's Description

Gorgeous home located on a large landscaped lot in Marshall Ridge. Loaded with upgrades! Featuring 5 spacious bedrooms, 4 full baths. Private study with french doors. Beautiful hand scrapped hardwood floors.Inviting family room with fireplace, formal dining, dream kitchen with large island, stainless appliances, granite, secretary bar, abundant counter and cabinet space & walk-in pantry, cozy breakfast nook, large master suite down with oversized corner shower and garden tub. Three bedrooms and 2 full bath rooms up with large game room with built ins and a separate media room. Custom plantation shutters and sun shades installed throughout. backyard features a covered patio perfect for relaxing and entertaining.

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
Bear Creek Intermediate School Primary Regular 781 42 9
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Bear Creek Intermediate School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

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

$503,910$615,890$559,900

PURCHASE PRICE

$3,042$3,718$3,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,380
EXPENSES Loan Payment -$2,066
Property Tax -$1,175
Property Insurance -$251
HOA -$63
Property Management Fees -$99
CASH FLOW
-$273

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.

$559,900

PROJECTED PRICE

$3,380

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,124

INVESTMENT

$154,124

Down Payment
$139,975
Rehab Estimate
$5,750
Closing Costs
$8,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,975
Loan Amount $419,925
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$10,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,380

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,356

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$2,9953$3,3804$3,4005$3,650
$3,650
RENT COMPS ANALYSIS
  • 601 Silver Chase Drive Keller, TX 3
    • 5 beds 4 baths ∙ 3,880 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,880 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,380
    • $0.87
    •  
  • 1640 Bradford Grove Trail Keller, TX 1
    • 5 beds 4 baths ∙ 3,798 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,798 Sqft ∙ Built 2010
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.78
    •  
  • 404 Sagewood Court Keller, TX 2
    • 5 beds 4 baths ∙ 3,549 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,549 Sqft ∙ Built 2008
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.84
    •  
  • 1628 Goldenrod Lane Keller, TX 4
    • 4 beds 3 baths ∙ 3,654 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,654 Sqft ∙ Built 2014
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.93
    •  
  • 1633 Goldenrod Lane Keller, TX 5
    • 5 beds 4 baths ∙ 3,996 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,996 Sqft ∙ Built 2015
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Hal Robinson
The Robinson Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419883
Last Updated: 08/25/2020
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