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700 Renaissance Court Keller, TX 76248

5 Beds 4 Baths 3,935 sqft Built 2002

$585,000

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $148.67
  • 4 Days on Market
  • MLS # : 14462390
  • Updated Date : 10/31/2020 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,935 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Quality can be seen throughout every room in this outstanding Drees custom home. Sited in a gated community on a manicured cul-de-sac lot, the home boasts 3935 square feet of living space including a formal living, an dining area, four bedrooms, three-and-half baths, a chef's kitchen, breakfast nook, 2nd level game and media room, utility area, and 3-car garage. Amenities include stately hardwoods, gracious windows with serene views, fresh paint, a modern staircase; a floor-to-ceiling fire place and a plethora of custom built-ins. The luxurious master suite offers a sitting area before bay window, a double trayed ceiling and spa-inspired bathroom. Relax on the covered patio overlooking a sparkling pool and spa.

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

Zip Code: 76248

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Zip Code: 76248

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262728

* 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
Bear Creek Intermediate School Primary Regular 781 42 9
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Bear Creek Intermediate School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$2,158
Property Tax -$1,227
Property Insurance -$255
HOA -$84
Property Management Fees -$99
CASH FLOW
-$283

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.

$585,000

PROJECTED PRICE

$3,540

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$10,934

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $3,515

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,3003$3,5404$3,950
$3,950
RENT COMPS ANALYSIS
  • 700 Renaissance Court Keller, TX 3
    • 5 beds 4 baths ∙ 3,935 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,935 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $0.90
    •  
  • 605 Signet Court Keller, TX 1
    • 4 beds 4 baths ∙ 3,800 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,800 Sqft ∙ Built 1998
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.87
    •  
  • 2207 Bayou Court Keller, TX 2
    • 4 beds 4 baths ∙ 3,792 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,792 Sqft ∙ Built 2000
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.87
    •  
  • 540 Chesapeake Lane Southlake, TX 4
    • 5 beds 5 baths ∙ 4,198 Sqft ∙ Built 2002 5 beds 5 baths ∙ 4,198 Sqft ∙ Built 2002
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $0.94
    •  
PROPERTY LISTING DETAILS
Chad Collins
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462390
Last Updated: 10/31/2020
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