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Harrison Lilly

| Harrison Lilly Realty Dallas | Harrison Lilly Realty | PLACE

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577 Richlands Way , Fate, TX 75087
$1,158,900
Est. Payment: $5,966.52/mo
8 Bed
8 Bath
4100 Sqft
Status: active | Days on site: 81
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VCR-C15903466 - VCR-C159091383,VCR-C159052275
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House Description

Investor Opportunity in Downtown Fate! Fully leased 4-plex featuring four spacious 2-bedroom, 2-bath units, each approximately 1,025 sqft. Built in 2024 with modern finishes, quartz countertops, Euro-style cabinetry, 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. Located in one of the fastest-growing areas of Fate, this property sits near major local growth and future commercial development, including the planned Fate Yards project at Memorial Parkway and I-30. Fate Yards is expected to bring a large-scale entertainment, dining, retail, office, hospitality, gym, movie theater, greenspace, and restaurant destination to the area, further supporting long-term rental demand and neighborhood convenience. With stabilized income, full occupancy, and proximity to I-30, George Bush Turnpike access, Lake Ray Hubbard, shopping, dining, and future commercial amenities, this is an excellent turnkey investment opportunity in the path of growth. Buyer and buyer’s agent to verify all development plans, timelines, tenants, approvals, and future area improvements.

Highlights

Listed by Chaz Cameli , Monument Realty , North Texas Real Estate Information Systems

Property Type

Multi-Family

Lot/Acreage
0.13

HOA Fee

1385 Quarterly

Year Built

2024

County

Rockwall

Neighborhood

Richlands Plaza

School District

Royse City ISD

Listing ID

21274734

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:8
  • Bathrooms:8
  • Full Bathrooms:8
Appliances:Dishwasher, Electric Cooktop, Electric Range, Microwave, Refrigerator
Air Cond:Ceiling Fan(s),Central Air,Electric
Fireplaces:
Floor:Luxury Vinyl Plank
Other:
  • Additional:Cable TV Available, Flat Screen Wiring, High Speed Internet Available, Multiple Staircases, Smart Home System

Exterior Features

Garage Capacity:10
Roof:Asphalt,Other
Others:
  • Additional:Preowned
Parking Features:Common,On Street,Unassigned
Principal Interest
$5,967
Taxes
$910
HOA
$1,385

Home Price

$1,158,900

Loan Details

30 yrs
6.674%

Down Payment

20%
$231,780
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$5,966.52

Principal

Taxes

HOA

Principal Taxes HOA Total
Monthly $5,966.52 $909.67 $1,385.00 $8,261.19
Yearly $71,598.25 $10,916.00 $16,620.00 $99,134.25
Total $2,147,947.38 $327,480.00 $498,600.00 $2,974,027.38

Today's Rates

30 Year

6.67%

20 Year

6.37%

15 Year

5.93%

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Market insight data is pulled from the same city as the listing being viewed (Fate, TX).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by North Texas Real Estate Information Systems Multiple Listing Service, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-08-24T21:21:41.390Z

© 2026 North Texas Real Estate Information Systems