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1216 Blue Brook Drive Rockwall, TX 75087

3 Beds 2 Baths 1,982 sqft Built 2006

INVESTimate

$285,000

List Price

$1,910

$1,719 - $2,101

Rent Est.

$306,546  ( +7.56%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $143.79
  • 6 Days on Market
  • MLS # : 14418264
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,982 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Lovely home in great community just waiting for the next homeowners! Recent flooring and paint, Rockwall ISD, kitchen open to the family room, arched entries, wood burning fireplace, split bedrooms, and covered patio in the back yard, landscaped. This home has a formal living that can be used as a study. Please come and see and make it your own!

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

Neighborhood: Caruth Lake

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Caruth Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Celia Hays Elementary School Primary Regular 505 35 8
Celia Hays Elementary School Middle Regular 505 35 8
Rockwall High School High Regular 2,323 134 8

Celia Hays Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 35
8
GreatSchools Rating

Celia Hays Elementary School

  • Education Level: Middle
  • # of students: 505
  • # of teachers: 35
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,052
Property Tax -$513
Property Insurance -$142
HOA -$44
Property Management Fees -$99
CASH FLOW
$61

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.

$285,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.56%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$21,516

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,8603$1,9104$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 1216 Blue Brook Drive Rockwall, TX 3
    • 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.96
    •  
  • 208 Jacob Crossing Rockwall, TX 1
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2000
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.97
    •  
  • 1223 Hampton Bay Drive Rockwall, TX 2
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2006
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.02
    •  
  • 1210 Blue Brook Drive Rockwall, TX 4
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2006
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.12
    •  
  • 1415 Open Bay Court Rockwall, TX 5
    • 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2015
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
PROPERTY LISTING DETAILS
Patty Turner
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418264
Last Updated: 08/22/2020
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