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622 W Fate Main Place Fate, TX 75087

3 Beds 2 Baths 2,020 sqft Built 2008

$282,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $140.05
  • 2 Days on Market
  • MLS # : 14541907
  • Updated Date : 03/27/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,020 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Uptown

Listing Agent's Description

Won't last long!!!! Come see this beautiful well maintained home in the desirable Woodcreek community. This neighborhood has wonderful parks and pools and falls within Rockwall ISD. Complete with hand scraped hard woods, 8 foot privacy fence and well manicured landscaping. Beautiful french doors that open up to the front office. The back yard patio cover makes for a good time for any weather! The security system is negotiable. Central AC to keep it cost affective in the summer months. Gas heat in the winter. Bring your family and enjoy the community!

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

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
 

$254,610$311,190$282,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$983
Property Tax -$632
Property Insurance -$144
HOA -$38
Property Management Fees -$99
CASH FLOW
$175

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.

$282,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.73%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,719

INVESTMENT

$80,719

Down Payment
$70,725
Rehab Estimate
$5,750
Closing Costs
$4,244

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$983

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,725
Loan Amount $212,175
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$26,107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,091

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,0704$2,0955$2,195
$2,195
RENT COMPS ANALYSIS
  • 622 W Fate Main Place Fate, TX 3
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.02
    •  
  • 575 Louder Way Fate, TX 1
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2012
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 778 Ruffian Way Fate, TX 2
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2013
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.08
    •  
  • 611 Louder Way Fate, TX 4
    • 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2011
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.02
    •  
  • 838 Cauble Drive Fate, TX 5
    • 4 beds 2 baths ∙ 2,073 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,073 Sqft ∙ Built 2017
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.06
    •  
PROPERTY LISTING DETAILS
Luke Halpin
Jp & Associates Uptown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14541907
Last Updated: 03/27/2021
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