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723 Baxter Trail Fate, TX 75087

5 Beds 5 Baths 2,888 sqft Built 2016

$415,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $143.70
  • 4 Days on Market
  • MLS # : 14470097
  • Updated Date : 11/12/2020 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,888 sqft
  • Baths : 4 full , 1 half
Listing Agent

Jp & Associates Rockwall

Listing Agent's Description

ONE OF KIND S. CLEMENTS HOMES AMAZING 2 STORY FLOORPLAN. Rare opportunity to own a custom home in Woodcreek back to trees in Rockwall I.S.D. 5 BR, 4 full baths, plus half bath, study, dining, Master & BR 2 down, 3 BR up. Custom finish out includes TONS of hand scraped hardwoods, custom cabinetry including under counter lights, custom lighting w lots of cans, granite, Kitchen Aid SS appl include double oven & micro built in island, storage island, HUGE pantry, crown molding, wide baseboards, 8 ft doors downstairs, winding wood staircase, iron spindles, pavers in the mud room, 3 car garage, 2 car Texas size garage 20x18.5, fits 2 full size suburbans no problem, 1 car is 12.5x20. Walking distance to elementary.

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
Billie Stevenson Elementary School Primary Unknown 526 35 NA
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Billie Stevenson Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 35
NA
GreatSchools Rating

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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,531
Property Tax -$927
Property Insurance -$194
HOA -$47
Property Management Fees -$99
CASH FLOW
-$498

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.

$415,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.55%

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-$12k-$10k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$226

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,060

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0503$2,3004$2,325
$2,325
RENT COMPS ANALYSIS
  • 723 Baxter Trail Fate, TX 3
    • 5 beds 5 baths ∙ 2,888 Sqft ∙ Built 2016 5 beds 5 baths ∙ 2,888 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 207 Mulberry Drive Fate, TX 1
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2006
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.69
    •  
  • 601 Fireberry Drive Fate, TX 2
    • 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.67
    •  
  • 204 Campbell Court Fate, TX 4
    • 4 beds 4 baths ∙ 2,970 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,970 Sqft ∙ Built 2013
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.78
    •  
PROPERTY LISTING DETAILS
Tiphannie Clements
Jp & Associates Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470097
Last Updated: 11/12/2020
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