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713 Kim Lane Royse City, TX 75189

3 Beds 2 Baths 1,402 sqft Built 2003

$203,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $145.44
  • 3 Days on Market
  • MLS # : 14463861
  • Updated Date : 11/01/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

SPECTACULAR ONE-STORY HOME WITH 3 BEDROOMS AND 2 BATHROOMS IN THE HEART OF ROYSE CITY! Your family will love this stylish home graced with extensive plank floors and a cozy fireplace. Cooking is a breeze in the pristine kitchen showcasing tons of countertop space. Retreat to the primary suite at the end of the day that is graced with a private bathroom and a walk-in closet. Spend summer evenings on the covered patio or in the massive backyard. This home is located near Stone River Golf Club and Scott Elementary School! Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: 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
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
 

$183,510$224,290$203,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$752
Property Tax -$445
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
$65

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.

$203,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$59,784

INVESTMENT

$59,784

Down Payment
$50,975
Rehab Estimate
$5,750
Closing Costs
$3,059

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,975
Loan Amount $152,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$16,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,465

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4703$1,4954$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 713 Kim Lane Royse City, TX 2
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.05
    •  
  • 1700 Audrey Drive Royse City, TX 1
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 2004
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 1705 Bob Drive Royse City, TX 3
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2006
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
  • 721 Mackenzie Drive Royse City, TX 4
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2001
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 1513 Kelly Lane Royse City, TX 5
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2003
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.12
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463861
Last Updated: 11/01/2020
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