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735 Fletcher Drive Fate, TX 75087

4 Beds 3 Baths 3,134 sqft Built 2020

$360,222

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $114.94
  • 3 Days on Market
  • MLS # : 14467194
  • Updated Date : 11/06/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,134 sqft
  • Baths : 2 full , 1 half
Listing Agent

Trendmaker Homes Dfw, Llc

Listing Agent's Description

MLS# 14467194 - Built by Trendmaker Homes - January completion! ~ The Lilian is a captivating two-story plan that provides the perfect blank slate to set your story. The beautiful kitchen includes a center island with additional seating, stainless steel appliances, breakfast nook and plenty of counter space making it the perfect spot to host dinner parties. Continue the dinner party or hang out with family in the connecting cozy family room. A secluded primary suite, located on the first floor, includes a relaxing primary bath with vanity space, a large shower, and huge walk-in closet. Upstairs you’ll find a spacious gameroom and additional bedrooms and full bathroom.

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
 

$324,200$396,244$360,222

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,329
Property Tax -$649
Property Insurance -$208
HOA -$45
Property Management Fees -$99
CASH FLOW
-$170

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.

$360,222

PROJECTED PRICE

$2,160

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) 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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,459

INVESTMENT

$97,459

Down Payment
$90,056
Rehab Estimate
$2,000
Closing Costs
$5,403

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,329

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,056
Loan Amount $270,167
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,186

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0503$2,1454$2,1505$2,160
$2,160
RENT COMPS ANALYSIS
  • 735 Fletcher Drive Fate, TX 5
    • 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.69
    •  
  • 413 Sugarberry Lane Fate, TX 1
    • 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
    •  
  • 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
    •  
  • 111 Gaines Court Fate, TX 3
    • 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
    •  
  • 423 Florence Drive Fate, TX 4
    • 3 beds 5 baths ∙ 2,936 Sqft ∙ Built 2014 3 beds 5 baths ∙ 2,936 Sqft ∙ Built 2014
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Trendmaker Homes Dfw, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467194
Last Updated: 11/06/2020
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