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728 Fletcher Drive Fate, TX 75087

5 Beds 3 Baths 3,362 sqft Built 2021

$411,249

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $122.32
  • 2 Days on Market
  • MLS # : 14509731
  • Updated Date : 01/30/2021 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,362 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14509731 - Built by Tri Pointe Homes - May completion! ~ This inviting home has it all. 5 Bedrooms, 3 Bath, 2 Car Garage, Covered Patio, Media Room, Study, Luxury Kitchen, Bed 4 & Pet Camp . Are you a host at heart? The downstairs secondary bedroom in the Jensen is perfect for overnight guests. Luxury kitchen features a decorative vent hood, cook top, and stacked oven & microwave. Schedule your showing today!

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
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
 

$370,124$452,374$411,249

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,428
Property Tax -$740
Property Insurance -$221
HOA -$47
Property Management Fees -$99
CASH FLOW
-$206

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$411,249

PROJECTED PRICE

$2,330

PROJECTED RENT

0.57%

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) 3.00%
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-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,981

INVESTMENT

$110,981

Down Payment
$102,812
Rehab Estimate
$2,000
Closing Costs
$6,169

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,812
Loan Amount $308,437
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,814

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,370

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,3303$2,750
$2,750
RENT COMPS ANALYSIS
  • 728 Fletcher Drive Fate, TX 2
    • 5 beds 3 baths ∙ 3,362 Sqft ∙ Built 2021 5 beds 3 baths ∙ 3,362 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.69
    •  
  • 601 Fireberry Drive Fate, TX 1
    • 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.67
    •  
  • 148 Stevenson Drive Fate, TX 3
    • 6 beds 4 baths ∙ 3,712 Sqft ∙ Built 2015 6 beds 4 baths ∙ 3,712 Sqft ∙ Built 2015
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.74
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509731
Last Updated: 01/30/2021
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