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915 Salem Court Royse City, TX 75189

3 Beds 3 Baths 2,533 sqft Built 2016

$325,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $128.31
  • 3 Days on Market
  • MLS # : 14462203
  • Updated Date : 11/01/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,533 sqft
  • Baths : 2 full , 1 half
Listing Agent

Citiwide Alliance Realty

Listing Agent's Description

Very Exclusive and Wonderful 3 bed, 2.5 baths, 1 story home with open concept! Includes spacious living, dining, breakfast rooms, as well as a solarium for outdoor cooking or entertaining. Chef Kitchen with granite, tile backsplash, and hardwood laminate flooring. High ceilings with abundant lighting from oodles of windows. Like new AC units and appliances. The community includes walking trails and a small pond. Virtual 3D tour is available.

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

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
Davis Elementary School Primary Regular 476 37 6
Royse City Middle School Middle Regular 780 47 6
Royse City High School High Regular 1,410 88 5

Davis Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 37
6
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,199
Property Tax -$662
Property Insurance -$174
HOA -$100
Property Management Fees -$99
CASH FLOW
-$104

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.

$325,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$9,093

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,166

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9503$2,1004$2,1305$2,200
$2,200
RENT COMPS ANALYSIS
  • 915 Salem Court Royse City, TX 4
    • 3 beds 3 baths ∙ 2,533 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,533 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.84
    •  
  • 1621 Colonial Drive Royse City, TX 1
    • 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2008
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.78
    •  
  • 1004 Lincoln Drive Royse City, TX 2
    • 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2015
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 1205 Maverick Lane Royse City, TX 3
    • 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2013
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 914 Saint Matthew Circle Royse City, TX 5
    • 3 beds 3 baths ∙ 2,211 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,211 Sqft ∙ Built 2017
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
PROPERTY LISTING DETAILS
Thomas Varghese
Citiwide Alliance Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462203
Last Updated: 11/01/2020
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