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877 Mildren Lane Fate, TX 75087

3 Beds 2 Baths 2,275 sqft Built 2020

$337,440

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $148.33
  • 6 Days on Market
  • MLS # : 14462295
  • Updated Date : 10/30/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,275 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14462295 - Built by UnionMain Homes - December completion! ~ Overlooking the spacious dining room, the well-appointed kitchen features a sizable center island with breakfast bar, ample counter and cabinet space, and roomy pantry. The beautiful master bedroom is complemented by numerous windows overlooking the backyard, enormous walk-in closet, and deluxe master bath with dual-sink vanity, large soaking tub, and private water closet. The secondary bedrooms each feature generous closets and full baths between the two spacious rooms. Additional highlights include an upgraded study, tile plank throughout all living areas and centrally-located laundry...

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$303,696$371,184$337,440

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,245
Property Tax -$608
Property Insurance -$159
HOA -$47
Property Management Fees -$99
CASH FLOW
-$57

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.

$337,440

PROJECTED PRICE

$2,100

PROJECTED RENT

0.62%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,422

INVESTMENT

$91,422

Down Payment
$84,360
Rehab Estimate
$2,000
Closing Costs
$5,062

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,245

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,360
Loan Amount $253,080
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$14,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,139

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,9493$2,0004$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 877 Mildren Lane Fate, TX 4
    • 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 749 Bosley Drive Fate, TX 1
    • 4 beds 2 baths ∙ 1,997 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,997 Sqft ∙ Built 2017
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.92
    •  
  • 914 Mangrove Drive Fate, TX 2
    • 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2011
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $0.89
    •  
  • 413 Hickory Lane Fate, TX 3
    • 3 beds 2 baths ∙ 2,112 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,112 Sqft ∙ Built 2007
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 616 Cayden Court Fate, TX 5
    • 4 beds 2 baths ∙ 2,303 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,303 Sqft ∙ Built 2015
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462295
Last Updated: 10/30/2020
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