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608 Faye Street Desoto, TX 75115

3 Beds 2 Baths 2,043 sqft Built 2020

$299,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $146.79
  • 1 Days on Market
  • MLS # : 14482025
  • Updated Date : 12/05/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,043 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

Welcome to The West Desoto Estates. Only minutes away from Cedar Hill shopping. Feel right at home as you walk through the spacious entryway, right into this beautiful newly constructed home! Did someone mention entertainment? This home is great for gatherings with family and friends. Imagine the great conversations you will have as you gather around the huge granite countertop island in the kitchen or sitting outside enjoying the peace and quiet on your spacious patio. Be the first to soak in your primary bathroom tub. And who needs wood when you have a beautiful electric fireplace that takes seconds to start. What are you waiting for? Make this home, your new home for the new year!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75115

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75115

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451741

* 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
Ruby Young Elementary School Primary Regular 617 34 3
Desoto West Middle School Middle Regular 709 49 3

Ruby Young Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 34
3
GreatSchools Rating

Desoto West Middle School

  • Education Level: Middle
  • # of students: 709
  • # of teachers: 49
3
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,107
Property Tax -$717
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$727

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,474

INVESTMENT

$81,474

Down Payment
$74,975
Rehab Estimate
$2,000
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,6003$1,6504$1,7755$2,000
$2,000
RENT COMPS ANALYSIS
  • 608 Faye Street Desoto, TX 1
    • 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.66
    •  
  • 547 S Parks Drive Desoto, TX 2
    • 4 beds 2 baths ∙ 2,007 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,007 Sqft ∙ Built 2000
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 608 Duke Drive Desoto, TX 3
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2003
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 717 Horseshoe Court Desoto, TX 4
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2005
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.83
    •  
  • 905 Matagorda Lane Desoto, TX 5
    • 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 2016
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Tinishia Price
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482025
Last Updated: 12/05/2020
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