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1006 S Rockwall Avenue Terrell, TX 75160

3 Beds 3 Baths 1,627 sqft Built 2020

INVESTimate

$225,000

List Price

$1,470

$1,323 - $1,617

Rent Est.

$238,973  ( +6.21%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $138.29
  • 5 Days on Market
  • MLS # : 14419039
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,627 sqft
  • Baths : 2 full , 1 half
Listing Agent

Global Realty Group, Inc.

Listing Agent's Description

Brand new construction. This should be ready within 90 days. There is another home under construction at 1007 S. Hattie, Terrell for $225,000

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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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$830
Property Tax -$580
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
-$160

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.

$225,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.21%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,625

INVESTMENT

$61,625

Down Payment
$56,250
Rehab Estimate
$2,000
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,497

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4703$1,4954$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 1006 S Rockwall Avenue Terrell, TX 2
    • 3 beds 3 baths ∙ 1,627 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,627 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.90
    •  
  • 515 Mt Olive Street Terrell, TX 1
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2019
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 130 Jackson Drive Terrell, TX 3
    • 4 beds 2 baths ∙ 1,593 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,593 Sqft ∙ Built 2006
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 102 Brooks Drive Terrell, TX 4
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2018
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 125 Hamilton Drive Terrell, TX 5
    • 4 beds 2 baths ∙ 1,612 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,612 Sqft ∙ Built 2014
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
PROPERTY LISTING DETAILS
Chris Okafor
Global Realty Group, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419039
Last Updated: 08/22/2020
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