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809 Kim Lane Royse City, TX 75189

3 Beds 2 Baths 1,402 sqft Built 2020

$237,500

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $169.40
  • 1 Days on Market
  • MLS # : 14475713
  • Updated Date : 11/21/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Uptown

Listing Agent's Description

Your opportunity to own Brand New construction in Estates of Quail Ridge!! This 1-story home has three bedrooms, two full baths with oak hardwood throughout. The kitchen features quartz countertops and island, lots of cabinet space, soft close drawers and a huge pantry! Open living floor plan with a great layout that is ideal for entertaining. Massive backyard and covered patio for those summer cookouts. This home is located near Stone River Golf Club and Scott Elementary School!! Come make it yours today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$213,750$261,250$237,500

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$876
Property Tax -$519
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
-$72

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.

$237,500

PROJECTED PRICE

$1,530

PROJECTED RENT

0.64%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

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

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$64,938

INVESTMENT

$64,938

Down Payment
$59,375
Rehab Estimate
$2,000
Closing Costs
$3,563

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$876

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,375
Loan Amount $178,125
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5004$1,5305$1,550
$1,550
RENT COMPS ANALYSIS
  • 809 Kim Lane Royse City, TX 4
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.09
    •  
  • 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
    •  
  • 721 Mackenzie Drive Royse City, TX 2
    • 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 3
    • 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
    •  
  • 808 Cooper Lane Royse City, TX 5
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2001
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.18
    •  
PROPERTY LISTING DETAILS
Maggie Roman
Jp & Associates Uptown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475713
Last Updated: 11/21/2020
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