Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

619 Lowry Drive Fate, TX 75087

5 Beds 4 Baths 3,760 sqft Built 2009

$399,900

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $106.36
  • 3 Days on Market
  • MLS # : 14535991
  • Updated Date : 03/19/2021 at 11:49
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,760 sqft
  • Baths : 3 full , 1 half
Listing Agent

Regal, Realtors

Listing Agent's Description

Gorgeous 2-Story Home on a Corner Lot in Woodcreek! Entry with High Ceilings, Engineered Wood Floors, Elegant Formal Living Area with French Doors, Formal Dining Room. Huge Master Bedroom Suite down + 2nd Bedroom down. 3 Bedrooms up, plus Game Room, Media Room, and Study or 5th Living Area! Gourmet Kitchen with Granite Island, Breakfast Bar and lots of Counter space! Walk in Pantry. Built in Desk. Large Utility Room. Great Outdoor Living on the Covered Patio with Sun Shades, Large Grassy Areas. 3 Car Garage! Rockwall ISD! Lots of Community Amenities including Pool, Playground, Dogpark, and Walking Paths!

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

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
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Herman E. Utley Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 40
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,389
Property Tax -$893
Property Insurance -$244
HOA -$47
Property Management Fees -$99
CASH FLOW
-$62

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.

$399,900

PROJECTED PRICE

$2,610

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,684

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,645

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6103$2,7454$2,750
$2,750
RENT COMPS ANALYSIS
  • 619 Lowry Drive Fate, TX 2
    • 5 beds 4 baths ∙ 3,760 Sqft ∙ Built 2009 5 beds 4 baths ∙ 3,760 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.69
    •  
  • 157 Buffington Avenue Fate, TX 1
    • 6 beds 4 baths ∙ 3,848 Sqft ∙ Built 2013 6 beds 4 baths ∙ 3,848 Sqft ∙ Built 2013
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.68
    •  
  • 210 White Drive Fate, TX 3
    • 5 beds 4 baths ∙ 3,959 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,959 Sqft ∙ Built 2008
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,745
    • $0.69
    •  
  • 148 Stevenson Drive Fate, TX 4
    • 6 beds 4 baths ∙ 3,712 Sqft ∙ Built 2015 6 beds 4 baths ∙ 3,712 Sqft ∙ Built 2015
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.74
    •  
PROPERTY LISTING DETAILS
Christopher Dai
Regal, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535991
Last Updated: 03/19/2021
BESbswy