577 Richlands Way

Fate, TX 75087

$1,150,000
Price
8
Beds
8
Baths
4,100 Sq. Ft.
$280 / Sq. Ft.
4,100
Sq. Ft.
$280
per Sq. Ft.

Description

Investors New Construction Luxury 4-Plex in heart of Fate Downtown. Four 2-Bed, 2-Bath, 1025sqft Units in a strong Rental market with explosive growth in Fate, Royse City. Quality Construction with Energy Efficient Wall Framing, Low-E Windows, Spray Foam Insulated, Fire Rated Walls between Units, Fire Alarm & Sprinkler Systems. Kitchens: Modern Euro Cabinetry, Quartz counters, Tiled backsplashes, Electric Appliances. Open Plans. Ensuite Bedrooms. Master Baths feature walk-in showers with tiled surround....Investors New Construction Luxury 4-Plex in heart of Fate Downtown. Four 2-Bed, 2-Bath, 1025sqft Units in a strong Rental market with explosive growth in Fate, Royse City. Quality Construction with Energy Efficient Wall Framing, Low-E Windows, Spray Foam Insulated, Fire Rated Walls between Units, Fire Alarm & Sprinkler Systems. Kitchens: Modern Euro Cabinetry, Quartz counters, Tiled backsplashes, Electric Appliances. Open Plans. Ensuite Bedrooms. Master Baths feature walk-in showers with tiled surround. Energy Efficient appliances & LED lights. Close to I-30, George Bush Tollway, Lake Ray Hobert, restaurants, Golf, Lakes etc. 4 of the 6 4-plex under contract ! Ready by Dec'2024
  1. Listed by Vic Reddy Pasham • TREC #0638106 • Colleen Frost Real Estate Serv • 469-280-0008

Property Details for 577 Richlands Way

Subdivision Name
Mark Crabtree Surv Abs #61
HOA Management Company
FREIT HOA
Pool
No
Number Of Parking Spaces
10
LISTING UPDATED: 11/03/2024 04:10 AM

Property Details for 577 Richlands Way

StatusActive
MLS #20769264
Days on Market15
Taxes-
HOA Fees$180 / month
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fourplex
Year Built2024
Lot Size2.39 AC / 104,108 SF
CountyRockwall County

Building Information for 577 Richlands Way

Stories2Residences4Year Built2024Building Size-Lot Size2.39 AC / 104,108 SF

Property Information for 577 Richlands Way

Summary
Location and General Information
  • Complex Name: Fate - YRC
  • Directions: From I-30, take FM 551 N, make right on E Fate Pl
  • Elementary School: Vernon
  • Elementary School Name: Vernon
  • High School: Royse City
  • High School Name: Royse City
  • Middle School: Royse City
  • Year Built Details: New Construction - Incomplete
  • School District: Royse City ISD
  • Geocode Confidence: Low
  • State: Texas
Parking
  • Parking Features: Common, On Street, Unassigned
  • Garage: No
Taxes and HOA Information
  • Tax Legal Description: A0061 M CRABTREE, TRACT 10, ACRES 2.39
  • Association Fee Includes: Maintenance Structure, Management Fees
  • Association Type: Mandatory
  • HOA Management Company Phone: 972-100-1000
  • Association Fee: $180.00
  • Association Fee Frequency: Monthly
Virtual Tour
Interior and Exterior Features
Interior Features
  • Flooring: Luxury Vinyl Plank
  • Heating: Central, Electric
  • Interior Features: Cable TV Available, Flat Screen Wiring, High Speed Internet Available, Multiple Staircases, Smart Home System
  • Appliances: Dishwasher, Electric Cooktop, Electric Range, Microwave, Refrigerator
  • Cooling: Ceiling Fan(s), Central Air, Electric
  • Smart Home Features Appor Pass Y: Yes
Exterior Features
  • Building Area Source: Plans
  • Construction Materials: Brick, Stucco
  • Foundation Details: Slab
  • Number Of Stories: 2
  • Roof: Asphalt, Other
  • Number Of Units Total: 4
  • Levels: Two
Property
Utilities
  • Green Energy Efficient: 12 inch+ Attic Insulation, Appliances, Drought Tolerant Plants
  • Utilities: All Weather Road, Asphalt, City Sewer, City Water
Property and Assessments
  • Financing Proposed: Cash, Conventional, FHA
  • Handicap: No
  • Loan Type: Treat As Clear
  • Security Features: Security System
Lot Information
  • Lot Size Acres: 2.39
  • Lot Size Area: 2.39
  • Lot Size Units: Acres
  • Lot Size Square Feet: 104108.4
  • Multi Parcel ID: No
  • Parcel Number: 000000010558
Multi Family
Multi-Family Information
  • Number Of Buildings: 12
  • Capitalization Rate: 5.41%
  • Gross Annual Expenses: $24,160
  • Gross Annual Income: $86,400
  • Insurance Expense: $2,000
  • Total Annual Expenses Include: Insurance, Maintenance
  • Net Operation Income: $62,240.00
Unit 1
  • Approximate SQFT: 1025.0
  • Average Lease Amount: $1,850.00
  • Dining Area Length: 10.0
  • Dining Area Width: 7.0
  • Kitchen Length: 12.0
  • Kitchen Width: 9.0
  • Living Area Length: 16.0
  • Living Area Width: 14.0
  • Master Bed Length: 13.0
  • Master Bed Width: 11.0
  • Number Of Baths Full: 2
  • Number Of Baths Half: 0
  • Unit Type Beds Total: 2
  • Unit Type Type: 2 Bedroom
  • Unit Type Units Total: 4

Property History for 577 Richlands Way

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

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577 Richlands Way is a multi-family home for sale in Fate, TX 75087. This property was listed for sale on November 2, 2024 by Colleen Frost Real Estate Serv, it's currently listed at $1,150,000. 577 Richlands Way is a 8-bed, 8-bath, 4,100 sqft multi-family home built in 2024.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Colleen Frost Real Estate Serv, Vic Reddy Pasham

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