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712 Hickory Lane Fate, TX 75087

4 Beds 3 Baths 2,828 sqft Built 2006

$315,900

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $111.70
  • 2 Days on Market
  • MLS # : 14492160
  • Updated Date : 01/09/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,828 sqft
  • Baths : 2 full , 1 half
Listing Agent

Citiwide Properties Corp.

Listing Agent's Description

This meticulously maintained, spacious, 4 bedroom, 2.5 bathroom house is ready to be your forever home. Thoughtful layout has the master suite with walk-in closet downstairs and 3 bedrooms with a lofty game room upstairs. Study, formal dining, large kitchen, breakfast nook, and a huge living room provide the entire family with all the space they need. For the gourmet chef in the family, the current stove is electric, but gas lines are currently in place to allow for an easy conversion. Low maintenance landscaping in the front and ample space in the backyard make this the perfect choice. This planned community has 3 clubhouses with gym, pool, and plenty of amenities. Come and see this beautiful house today.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Harry Herndon Intermediate School Primary Regular 408 27 7
Harry Herndon Intermediate School Middle Regular 408 27 7
Royse City High School High Regular 1,410 88 5

Harry Herndon Intermediate School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 27
7
GreatSchools Rating

Harry Herndon Intermediate School

  • Education Level: Middle
  • # of students: 408
  • # of teachers: 27
7
GreatSchools Rating

Royse City High School

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

$284,310$347,490$315,900

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,097
Property Tax -$705
Property Insurance -$191
HOA -$48
Property Management Fees -$99
CASH FLOW
-$240

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.

$315,900

PROJECTED PRICE

$1,900

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,464

INVESTMENT

$89,464

Down Payment
$78,975
Rehab Estimate
$5,750
Closing Costs
$4,739

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,097

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,975
Loan Amount $236,925
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,909

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,9004$1,9505$2,145
$2,145
RENT COMPS ANALYSIS
  • 712 Hickory Lane Fate, TX 3
    • 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.67
    •  
  • 409 Sugarberry Lane Fate, TX 1
    • 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2006
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.65
    •  
  • 715 Hickory Lane Fate, TX 2
    • 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2006
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.66
    •  
  • 413 Sugarberry Lane Fate, TX 4
    • 5 beds 2 baths ∙ 2,972 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,972 Sqft ∙ Built 2006
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.66
    •  
  • 111 Gaines Court Fate, TX 5
    • 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2007
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.73
    •  
PROPERTY LISTING DETAILS
Jennifer Dertouzos
Citiwide Properties Corp.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492160
Last Updated: 01/09/2021
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