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Listing provided courtesy of Monument Realty- MLS# 21274734MLS ProviderContact Information: Chaz Cameli - 714-580-6346

577 Richlands WayFate, TX 75087

Multi-Family · 8 Beds · 8 Full Baths · 4,100 Sq. ft. | 0.13 Acres
$1,195,000 Active

577 Richlands Way Overview

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Investor Opportunity in Downtown Fate! Fully leased 4-plex featuring four spacious 2-bedroom, 2-bath units, each approximately 1,025 sqft. Built with quality construction and modern finishes, including Euro-style cabinetry, quartz countertops, tiled backsplashes, electric appliances, open floor plans, ensuite bedrooms, walk-in showers with tiled surrounds, Low-E windows, spray foam insulation, fire-rated walls between units, and energy-efficient appliances and LED lighting. Located in the heart of growing Fate, close to I-30, George Bush Turnpike access, Lake Ray Hubbard, restaurants, shopping, golf, and local amenities. Strong rental market, stabilized income, and fully occupied—an excellent turnkey investment property.

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577 Richlands Way Facts & Features

  • Type Multi-Family
  • Sq. ft. 4,100
  • Price/Sq.ft. $291
  • Lot 0.13 Acres

Details

General

Association/HOA

  • Association Fee: 1385.0
  • Association Fee Frequency: Quarterly
  • Association Fee Includes: Association Management,Maintenance Structure
  • Association Name: Richland Plaza HOA
  • Association: Yes

School Information

  • School District: Royse City ISD
  • Elementary School: Vernon
  • Middle Or Junior School: Royse City
  • High School: Royse City

Income/Expenses

  • Gross Income: 79200.0
  • Insurance Expense: 4852.0
  • Net Operating Income: 61272.0

Building Information

  • Year Built: 2024
  • Year Built Details: Preowned

Location/Region

  • Country: US
  • County Or Parish: Rockwall
  • Postal City: ROCKWALL
  • Subdivision Name: Richlands Plaza

Tax Information

  • Tax Annual Amount: 10916.0

General Information

  • Listing Terms: Cash,Conventional,FHA,VA Loan
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income

Interior

Beds/Baths

  • Bathrooms Full: 8
  • Bathrooms Total: 8
  • Bedrooms Total: 8

Building Interior

  • Building Area Source: Public Records
  • Building Area Total: 4100.0

General Information

  • Appliances: Dishwasher,Electric Cooktop,Electric Range,Microwave,Refrigerator
  • Flooring: Luxury Vinyl Plank
  • Foundation Details: Slab
  • Interior Features: High Speed Internet,Multiple Staircases,Smart Home,Cable TV,Wired for Sound
  • Levels: Two
  • Living Area: 4100.0
  • Stories: 2

Exterior

Parking Information

  • Parking Features: Common,On Street,Unassigned
  • Parking Total: 10.0

Lot Information

  • Lot Size Acres: 0.13
  • Lot Size Area: 0.13
  • Lot Size Square Feet: 5662.8
  • Lot Size Units: Acres
  • Number Of Buildings: 12
  • Road Surface Type: Asphalt
  • Water Source: Public

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Construction Materials: Brick,Stucco
  • Roof: Asphalt,Other

General Information

  • Number Of Units Total: 4
  • Pool Features: None
  • Road Frontage Type: All Weather Road
  • Sewer: Public Sewer
  • Utilities: Sewer Available,Water Available,Cable Available

Unit Information

Unit 1 Details

  • Unit Type: 2 Bedroom
  • Units Total: 101

Unit 2 Details

  • Unit Type: 2 Bedroom
  • Units Total: 102

Unit 3 Details

  • Unit Type: 2 Bedroom
  • Units Total: 201

Unit 4 Details

  • Unit Type: 2 Bedroom
  • Units Total: 202

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

577 Richlands Way Market Data

Based on the last 30 days in this zip code

$623,968
Average List Price
$210
Average Price per Square Foot
66
Properties Sold
256
Average Days on Market
775
Properties for Sale
Calculations provided by Reliance Network


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