716-722 Fallow Drive

Venus, TX 76084

$830,000
Price
9
Beds
6
Baths
2
1/2 Baths
4,889 Sq. Ft.
$170 / Sq. Ft.
4,889
Sq. Ft.
$170
per Sq. Ft.

Description

Perfect for 1031 Exchange! Prime opportunity to invest in 100% occupied Class-A like-new luxury fourplex in scorching hot DFW market. Fantastic location across near Google's $1.6B Data Centers. Ellis County has experienced explosive population growth in the last decade, and it is expected to grow by 200% by 2050. Zoned to great Midlothian schools. The fourplex has a 3-2 unit (flat), a 2-2 unit (flat) and two townhouse style 2-1.5 units. Each unit has a one car garage. Total incoming rent of $80,160...Perfect for 1031 Exchange! Prime opportunity to invest in 100% occupied Class-A like-new luxury fourplex in scorching hot DFW market. Fantastic location across near Google's $1.6B Data Centers. Ellis County has experienced explosive population growth in the last decade, and it is expected to grow by 200% by 2050. Zoned to great Midlothian schools. The fourplex has a 3-2 unit (flat), a 2-2 unit (flat) and two townhouse style 2-1.5 units. Each unit has a one car garage. Total incoming rent of $80,160 per year and 6% CAP rate on actual financials. Don't miss out - this opportunity will be snatched quickly!
  1. Listed by Erion Shehaj • TREC #0516948 • Signature Real Estate • 713-952-3200

Property Details for 716-722 Fallow Drive

Subdivision Name
Heritage Hill Estates
HOA Management Company
Goodwin Company
Pool
No
Garage Spaces
4
Number Of Parking Spaces
4
Lot Size Dimensions
70X140
LISTING UPDATED: 12/02/2024 08:46 PM

Property Details for 716-722 Fallow Drive

StatusActive
MLS #20786473
Days on Market21
Taxes-
HOA Fees$1,600 / year
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fourplex
Year Built2021
Lot Size0.18 AC / 7,840 SF
CountyEllis County

Building Information for 716-722 Fallow Drive

Stories2Residences4Year Built2021Building Size-Lot Size0.18 AC / 7,840 SF

Property Information for 716-722 Fallow Drive

Summary
Location and General Information
  • Block: C
  • Complex Name: Heritage Hill Estates
  • Directions: Going W. on HWY 67 toward Venus right after Jones Rd will be Heritage Hills Parkway on the right. If you come to Patriot Parkway on the right you have gone too far. The site is between Jones Rd. & Patriot Pkwy (Or search for Fallow Dr on Google Maps)
  • Elementary School: Vitovsky
  • Elementary School Name: Vitovsky
  • High School: Heritage
  • High School Name: Heritage
  • Middle School: Frank Seales
  • Senior Community Yes/No: No
  • Year Built Details: Preowned
  • School District: Midlothian ISD
  • Geocode Confidence: Medium
  • Latitude: 32.45
  • Longitude: -97.08
  • State: Texas
Parking
  • Parking Features: Garage
  • Attached Garage: Yes
  • Garage: Yes
Taxes and HOA Information
  • Association Fee Includes: Maintenance Grounds
  • Association Type: Mandatory
  • HOA Management Company Phone: 855-289-6007
  • Association Fee: $1,600.00
  • Association Fee Frequency: Annually
  • Tax Lot: 20
Virtual Tour
Interior and Exterior Features
Interior Features
  • Flooring: Carpet, Luxury Vinyl Plank
  • Heating: Central, Electric
  • Interior Features: Granite Counters, Kitchen Island, Open Floorplan, Pantry, Walk-In Closet(s)
  • Appliances: Dishwasher, Disposal, Electric Range, Electric Water Heater
  • Cooling: Central Air
  • Smart Home Features Appor Pass Y: No
Exterior Features
  • Building Area Source: Plans
  • Construction Materials: Brick, Siding, Stone Veneer, Wood
  • Foundation Details: Slab
  • Number Of Stories: 2
  • Roof: Composition
  • Number Of Units Total: 4
  • Levels: Two
Property
Utilities
  • Utilities: Asphalt, City Sewer, City Water
Property and Assessments
  • Accessory Unit: No
  • Financing Proposed: Cash, Conventional
  • Handicap: No
  • Loan Type: Treat As Clear
  • Property Match: APN
Lot Information
  • Lot Size Acres: 0.18
  • Lot Size Area: 0.18
  • Lot Size Source: Plans
  • Lot Size Units: Acres
  • Lot Size Square Feet: 7840.8
  • Multi Parcel ID: No
  • Parcel Number: 284037
Multi Family
Multi-Family Information
  • Number Of Buildings: 1
  • Capitalization Rate: 5.75%
  • Gross Annual Expenses: $30,060
  • Gross Annual Income: $80,160
  • Insurance Expense: $2,500
  • Tenancy: 9 Months or Less, Over 9 Months
  • Total Annual Expenses Include: Insurance, Maintenance, Vacancy Allowance
  • Net Operation Income: $47,696.00
Unit 1
  • Approximate SQFT: 1347.0
  • Average Lease Amount: $1,795.00
  • Living Area Length: 12.0
  • Living Area Width: 16.0
  • Number Of Baths Full: 2
  • Unit Type Type: 3 Bedroom
  • Unit Type Units Total: 1
Unit 2
  • Approximate SQFT: 1274.0
  • Average Lease Amount: $1,695.00
  • Living Area Length: 14.0
  • Living Area Width: 16.0
  • Number Of Baths Full: 2
  • Unit Type Type: 2 Bedroom
  • Unit Type Units Total: 1
Unit 3
  • Approximate SQFT: 1134.0
  • Average Lease Amount: $1,595.00
  • Living Area Length: 20.0
  • Living Area Width: 17.0
  • Number Of Baths Full: 1
  • Number Of Baths Half: 1
  • Unit Type Type: 2 Bedroom
  • Unit Type Units Total: 2

Property History for 716-722 Fallow Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 716-722 Fallow Drive

This home is within Midlothian Independent School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
J A Vitovsky Elementary School
PublicPK to 5

Frank Seale Middle School
Public6 to 8

Midlothian High School
Public9 to 12

Jean Coleman Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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716-722 Fallow Drive is a multi-family home for sale in Venus, TX 76084. This property was listed for sale on November 26, 2024 by Signature Real Estate, it's currently listed at $830,000. This listing's school district is Midlothian Independent School District. Nearby schools include J A Vitovsky Elementary School, Frank Seale Middle School and Midlothian High School. 716-722 Fallow Drive is a 9-bed, 7-bath, 4,889 sqft multi-family home built in 2021.

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 Signature Real Estate, Erion Shehaj

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