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821 Preston Drive Royse City, TX 75189

4 Beds 3 Baths 2,592 sqft Built 2005

$279,990

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $108.02
  • 4 Days on Market
  • MLS # : 14497235
  • Updated Date : 01/15/2021 at 15:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,592 sqft
  • Baths : 2 full , 1 half
Listing Agent

Caprice Michelle, Llc

Listing Agent's Description

This Contemporary Nuhome, a Division of Lennar is on a Large Corner Lot & was Completely Remodeled & Looks Like a New Build. Designer Colors, New Flooring & Quartz Throughout. All Stainless Steel Appliances & the Refrigerator stays. The Master is Downstairs & Up the Custom Staircase are Spacious Bedrooms & a Super Sized Game Room or Media Room. You get a Feeling Like your Out in the Country. The Kitchen is Open to the Breakfast & Living Area with an Extra Large Pantry & Second Living area. The backyard is like a Soccer Field or Plenty of room to build a Pool. But for a low homeowners fee you have access to a Community Pool.

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

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
Fort Elementary School Primary Regular 555 41 8
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

Fort Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 41
8
GreatSchools Rating

Royse City Middle School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 47
6
GreatSchools Rating

Royse City High School

  • Education Level: High
  • # of students: 1,410
  • # of teachers: 88
5
GreatSchools Rating
 

$251,991$307,989$279,990

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$973
Property Tax -$611
Property Insurance -$177
HOA -$25
Property Management Fees -$99
CASH FLOW
$75

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.

$279,990

PROJECTED PRICE

$1,960

PROJECTED RENT

0.70%

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) 8.00%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$79,947

INVESTMENT

$79,947

Down Payment
$69,998
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,998
Loan Amount $209,993
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,307

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,960
1$1,9602$1,9953$2,1004$2,2005$2,295
$2,295
RENT COMPS ANALYSIS
  • 821 Preston Drive Royse City, TX 1
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.76
    •  
  • 604 England Street Fate, TX 2
    • 4 beds 2 baths ∙ 2,335 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,335 Sqft ∙ Built 2006
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
  • 202 Waxberry Drive Royse City, TX 3
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2019
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 2501 Sabine Circle Royse City, TX 4
    • 4 beds 2 baths ∙ 2,497 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,497 Sqft ∙ Built 2015
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 841 Costlow Lane Fate, TX 5
    • 5 beds 4 baths ∙ 2,336 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,336 Sqft ∙ Built 2019
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.98
    •  
PROPERTY LISTING DETAILS
Caprice Michelle
Caprice Michelle, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497235
Last Updated: 01/15/2021
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