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10 Falcons View Pass Heath, TX 75032

4 Beds 4 Baths 3,738 sqft Built 2013

$645,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $172.55
  • 4 Days on Market
  • MLS # : 14476420
  • Updated Date : 12/17/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,738 sqft
  • Baths : 3 full , 1 half
Listing Agent

Brent King Group

Listing Agent's Description

Stunning two story home located on a cul-de-sac with views of the Buffalo Creek golf course. Grand entryway has vaulted ceilings, iron staircase, under-stair storage, & hardwood floors throughout. Wall of windows with automatic shades allow for lots of natural light. The kitchen features granite counter tops, SS appliances, gas cook top, island, & breakfast area. First floor hall bath and large laundry room with sink. Private master suite with views & access to the backyard. Master bath includes a walk in shower, dual sinks, and walk in closet. Large gun safe in master closet stays. Additional 3 bedrooms, 2 bathrooms, & game room on second level. Big backyard with large patio, located on the 3rd fairway.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Buffalo Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Buffalo Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263597

* 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
Dorothy Smith Pullen Elementary School Primary Regular 610 39 7
Cain Middle School Middle Regular 941 50 7
Rockwall-heath High School High Regular 2,200 119 8

Dorothy Smith Pullen Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 39
7
GreatSchools Rating

Cain Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 50
7
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$580,500$709,500$645,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$2,380
Property Tax -$1,154
Property Insurance -$243
HOA -$54
Property Management Fees -$99
CASH FLOW
-$341

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.

$645,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,380

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$11,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $3,626

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4953$3,5754$3,5905$3,600
$3,600
RENT COMPS ANALYSIS
  • 10 Falcons View Pass Heath, TX 4
    • 4 beds 4 baths ∙ 3,738 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,738 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $0.96
    •  
  • 4 Tennis Village Drive Heath, TX 1
    • 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2001
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.97
    •  
  • 2213 Kings Pass Heath, TX 2
    • 4 beds 3 baths ∙ 3,390 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,390 Sqft ∙ Built 2000
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.03
    •  
  • 1815 Morrish Lane Heath, TX 3
    • 4 beds 4 baths ∙ 3,883 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,883 Sqft ∙ Built 1999
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,575
    • $0.92
    •  
  • 20 Center Court Heath, TX 5
    • 5 beds 5 baths ∙ 3,750 Sqft ∙ Built 2013 5 beds 5 baths ∙ 3,750 Sqft ∙ Built 2013
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.96
    •  
PROPERTY LISTING DETAILS
Brent King
Brent King Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476420
Last Updated: 12/17/2020
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