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672 Mckee Court Fate, TX 75087

4 Beds 4 Baths 3,474 sqft Built 2005

$390,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $112.26
  • 3 Days on Market
  • MLS # : 14509268
  • Updated Date : 01/29/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,474 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

A Fantastic Find in Fate. Plenty of room for entertaining, inside and out. Hardwood floors throughout this open floor plan with custom painted cabinets, lighting, and accent walls. The large kitchen is open to the living room and looks out upon the stunning back porch and swimming pool with waterfall and fire pit. Off the living room is the owners retreat complete with garden tub, walkin closet and dual vanities. Upstairs, a separate living area looking out over the back yard oasis along with split bedrooms AND a media room ready for your theater style seating and projector. Tons of natural light flow throughout this home. Located in highly sought after Woodcreek - with workout center, trails, and dog parks.

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

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
 

$351,000$429,000$390,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$1,355
Property Tax -$871
Property Insurance -$228
HOA -$47
Property Management Fees -$99
CASH FLOW
$81

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.

$390,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.69%

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$15k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$21,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,721

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,225
1$2,2252$2,6753$2,6804$2,845
$2,845
RENT COMPS ANALYSIS
  • 672 Mckee Court Fate, TX 3
    • 4 beds 4 baths ∙ 3,474 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,474 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.77
    •  
  • 101 Betty Drive Fate, TX 1
    • 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2002
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.66
    •  
  • 101 Equestrian Trail Fate, TX 2
    • 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 2006
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.83
    •  
  • 832 Mccall Drive Fate, TX 4
    • 4 beds 4 baths ∙ 3,301 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,301 Sqft ∙ Built 2017
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,845
    • $0.86
    •  
PROPERTY LISTING DETAILS
Josh Kesterson
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509268
Last Updated: 01/29/2021
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