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1006 S Rockwall Avenue Terrell, TX 75160

3 Beds 3 Baths 1,627 sqft Built 2021

$219,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $135.16
  • 2 Days on Market
  • MLS # : 14501191
  • Updated Date : 01/16/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,627 sqft
  • Baths : 2 full , 1 half
Listing Agent

Magnorum Realty Services, Llc

Listing Agent's Description

Brand new home on corner lot that provides the security of home ownership at an affordable price! This home features granite counters throughout, ceramic tile in the bathrooms and utility room, carpeted stairs, and gorgeous wood laminate flooring. The island kitchen is set up to allow it to be used as a breakfast bar, but also has room for eat-in dining with a view of the back yard. The kitchen also includes a pantry, built-in microwave, and stainless steel range-oven. The spacious master bedroom features a walk-in closet, and dual sinks in the bath. This home is close to downtown with many shopping and dining options. Young school children can walk right across the street to Burnett Elementary. Come see today

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 75160

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75160

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Dr. Bruce Wood Elementary School Primary Regular 567 37 4
Dr. Bruce Wood Elementary School Middle Regular 567 37 4
Terrell High School High Regular 1,087 79 3

Dr. Bruce Wood Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 37
4
GreatSchools Rating

Dr. Bruce Wood Elementary School

  • Education Level: Middle
  • # of students: 567
  • # of teachers: 37
4
GreatSchools Rating

Terrell High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 79
3
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$764
Property Tax -$566
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
-$100

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$219,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,274

INVESTMENT

$60,274

Down Payment
$54,975
Rehab Estimate
$2,000
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$2,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,456

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4503$1,4504$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 1006 S Rockwall Avenue Terrell, TX 3
    • 3 beds 3 baths ∙ 1,627 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,627 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 108 Roosevelt Court Terrell, TX 1
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 2001
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.89
    •  
  • 515 Mt Olive Street Terrell, TX 2
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2019
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 130 Jackson Drive Terrell, TX 4
    • 4 beds 2 baths ∙ 1,593 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,593 Sqft ∙ Built 2006
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 102 Brooks Drive Terrell, TX 5
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2018
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
PROPERTY LISTING DETAILS
Rick Sheffield
Magnorum Realty Services, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501191
Last Updated: 01/16/2021
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