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835 Sitwell Drive Fate, TX 75087

4 Beds 2 Baths 1,838 sqft Built 2021

$266,499

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $144.99
  • 6 Days on Market
  • MLS # : 14491117
  • Updated Date : 12/31/2020 at 09:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,838 sqft
  • Baths : 2 full
Listing Agent

Wendell Miller Realty

Listing Agent's Description

Coveted Serenade plan available! 4 bedroom one story home nestled just around the corner from unlimited family fun! Across from the Robert Smith Family Park and one block away from Miss May Vernon Elementary and the new Pool and Lakeside Amenity Center with playgrounds and much more! California flat island in this open concept kitchen with a gorgeous, modern kitchen with quartz countertops, and light gray cabinets with light gray subway tile backsplash. Wood look rigid core plank level 3 vinyl flooring in a neutral gray. Double sinks in the owner's suite with quartz countertops and enlarged shower with linen closet. This home complete MAY 2021.

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
 

$239,849$293,149$266,499

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$983
Property Tax -$480
Property Insurance -$133
HOA -$94
Property Management Fees -$99
CASH FLOW
$201

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.

$266,499

PROJECTED PRICE

$1,990

PROJECTED RENT

0.75%

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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,622

INVESTMENT

$72,622

Down Payment
$66,625
Rehab Estimate
$2,000
Closing Costs
$3,997

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$983

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,625
Loan Amount $199,874
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$37,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,990

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$1,9983$2,0004$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 835 Sitwell Drive Fate, TX 1
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.08
    •  
  • 815 Sitwell Drive Fate, TX 2
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2020
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $1.09
    •  
  • 929 Corbitt Lane Fate, TX 3
    • 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 2018
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
  • 616 Beltrand Lane Fate, TX 4
    • 4 beds 2 baths ∙ 1,837 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,837 Sqft ∙ Built 2020
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.12
    •  
  • 566 La Grange Drive Rockwall, TX 5
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2019
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.07
    •  
PROPERTY LISTING DETAILS
Wendell Miller
Wendell Miller Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491117
Last Updated: 12/31/2020
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