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861 Darst Drive Fate, TX 75189

4 Beds 2 Baths 2,092 sqft Built 2019

$244,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $117.07
  • 2 Days on Market
  • MLS # : 14495799
  • Updated Date : 01/08/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,092 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Beautiful like-new home in Woodcreek! Sitting on a corner lot, this large 4 bedroom 2 bathroom home has plenty of open space for everyone. Walking in you'll find two split bedrooms that share a bathroom, with the third bedroom perfectly situated off of the kitchen, making for a possible office or game room! The private master suite sits in the back of home & is equipped with an oversized vanity and huge walk in shower. Kitchen boasts a massive center island, a perfect entertaining spot, complete with granite countertops, an abundance of cabinet and counter space, & stainless steel appliances. Step out back to find a large open patio and plenty of room to roam! This home will not last long!

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
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$851
Property Tax -$620
Property Insurance -$148
HOA -$47
Property Management Fees -$99
CASH FLOW
$355

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.

$244,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.87%

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) 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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$40,416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,097

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,9954$2,1005$2,120
$2,120
RENT COMPS ANALYSIS
  • 861 Darst Drive Fate, TX 5
    • 4 beds 2 baths ∙ 2,092 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,092 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.01
    •  
  • 2130 Slow Stream Drive Royse City, TX 1
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2018
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 104 Waxberry Drive Royse City, TX 2
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2019
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 2012 Strongbark Drive Royse City, TX 3
    • 4 beds 3 baths ∙ 2,097 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,097 Sqft ∙ Built 2020
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 411 Burr Lane Fate, TX 4
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2020
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Aaron Stokes
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495799
Last Updated: 01/08/2021
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