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6607 Oak Ridge Court Royse City, TX 75189

4 Beds 3 Baths 2,529 sqft Built 2020

INVESTimate

$394,990

List Price

$2,160

$1,944 - $2,376

Rent Est.

$416,122  ( +5.35%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $156.18
  • 7 Days on Market
  • MLS # : 14415512
  • Updated Date : 08/20/2020 at 09:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,529 sqft
  • Baths : 3 full
Listing Agent

Regal, Realtors

Listing Agent's Description

Incomplete new construction with completion set for mid November that's located in Oakridge. Beautiful acre lot with tree line behind the home that features a massive covered patio that looks out to gorgeous view. This home consists of 4 beds with 3 baths, and a separate study. Home features to include: hand scraped hardwood floors, open kitchen to living, custom knotty alder cabinets, 3 cm granite counters, stainless steel appliances, floor to ceiling stone fireplace, and crown molding. Outside to include: lifetime comp shingle roof, sprinkler system and landscape package including sod, and custom brick and stone elevation. Must See!

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

Zip Code: 75189

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Zip Code: 75189

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Fort Elementary School Primary Regular 555 41 8
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

Fort Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 41
8
GreatSchools Rating

Royse City Middle School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 47
6
GreatSchools Rating

Royse City High School

  • Education Level: High
  • # of students: 1,410
  • # of teachers: 88
5
GreatSchools Rating
 

$355,491$434,489$394,990

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,457
Property Tax -$796
Property Insurance -$173
Property Management Fees -$99
CASH FLOW
-$365

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.

$394,990

PROJECTED PRICE

$2,160

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.35%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,672

INVESTMENT

$106,672

Down Payment
$98,748
Rehab Estimate
$2,000
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,748
Loan Amount $296,243
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,618

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,169

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,885
1$1,8852$2,1003$2,1004$2,1605$2,200
$2,200
RENT COMPS ANALYSIS
  • 6607 Oak Ridge Court Royse City, TX 4
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.85
    •  
  • 2429 Hankinson Lane Fate, TX 1
    • 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 2017
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.86
    •  
  • 1609 Logan Drive Royse City, TX 2
    • 5 beds 3 baths ∙ 2,514 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,514 Sqft ∙ Built 2005
    property image
    LEASED 03/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 202 Waxberry Drive Royse City, TX 3
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2019
    property image
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 2501 Sabine Circle Royse City, TX 5
    • 4 beds 2 baths ∙ 2,497 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,497 Sqft ∙ Built 2015
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Leighton Pinkham
Regal, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415512
Last Updated: 08/20/2020
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