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820 Horton Street Fate, TX 75189

5 Beds 3 Baths 2,574 sqft Built 2019

$309,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $120.40
  • 2 Days on Market
  • MLS # : 14488171
  • Updated Date : 12/19/2020 at 14:56
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,574 sqft
  • Baths : 2 full , 1 half
Listing Agent

Competitive Edge Realty Llc

Listing Agent's Description

Looking for a lovely home in the heart of Fate that is just walking distance from the neighborhood spray park and pool? Look no further! This bright and airy beauty has an open floor plan with an immense amount of space perfect for entertaining guests. The beautiful open kitchen boasts an oversized island with plenty of cabinets and granite countertops. Not only does this home have a nice sized utility room, it also has an oversized under the stairs closet for extra storage. The large primary bedroom has a sitting retreat where you can enjoy a good book or watch a movie! You can also enjoy the second living area upstairs as a movie room or a game room. Hurry! This gem will not last!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,143
Property Tax -$785
Property Insurance -$176
HOA -$47
Property Management Fees -$99
CASH FLOW
-$160

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.

$309,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.67%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,124

INVESTMENT

$84,124

Down Payment
$77,475
Rehab Estimate
$2,000
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,366

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,033

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8953$1,9254$2,0905$2,100
$2,100
RENT COMPS ANALYSIS
  • 820 Horton Street Fate, TX 4
    • 5 beds 3 baths ∙ 2,574 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,574 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.81
    •  
  • 1016 Hidden Creek Drive Royse City, TX 1
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2014
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.75
    •  
  • 1621 Colonial Drive Royse City, TX 2
    • 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2008
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 1416 Hunters Glen Royse City, TX 3
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2004
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.77
    •  
  • 1205 Maverick Lane Royse City, TX 5
    • 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2013
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kristi Bittenbender-garner
Competitive Edge Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488171
Last Updated: 12/19/2020
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