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1285 Highland Drive Rockwall, TX 75087

4 Beds 2 Baths 2,018 sqft Built 2005

$299,900

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $148.61
  • 3 Days on Market
  • MLS # : 14467089
  • Updated Date : 11/06/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,018 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Plano

Listing Agent's Description

Great house with great location. Fabulous opportunity to live in a premier Rockwall School District. This home has an amazing floorplan with generous open spaces and tall ceilings. Featuring 4 bedroom 2 bath, and a beautiful outside covered patio to enjoy gatherings with family and friends. Kitchen has stainless steel appliances and open layout to the living room for entertainment. Come see this gorgeous home and take the opportunity to live Lakeview Summit!!

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: Lakeview Summit

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lakeview Summit

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
Grace Hartman Elementary School Primary Regular 609 35 9
Grace Hartman Elementary School Middle Regular 609 35 9
Rockwall High School High Regular 2,323 134 8

Grace Hartman Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 35
9
GreatSchools Rating

Grace Hartman Elementary School

  • Education Level: Middle
  • # of students: 609
  • # of teachers: 35
9
GreatSchools Rating

Rockwall High School

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

$269,910$329,890$299,900

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,107
Property Tax -$540
Property Insurance -$144
HOA -$24
Property Management Fees -$99
CASH FLOW
-$43

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.

$299,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$13,618

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,947

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8703$1,9504$1,9955$2,250
$2,250
RENT COMPS ANALYSIS
  • 1285 Highland Drive Rockwall, TX 2
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.93
    •  
  • 1287 Stanford Drive Rockwall, TX 1
    • 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2005
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 710 Geary Drive Rockwall, TX 3
    • 4 beds 2 baths ∙ 2,097 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,097 Sqft ∙ Built 2004
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 1274 Petaluma Drive Rockwall, TX 4
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2005
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
  • 497 Sausalito Drive Rockwall, TX 5
    • 4 beds 2 baths ∙ 2,197 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,197 Sqft ∙ Built 2009
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
PROPERTY LISTING DETAILS
Ismael Sanchez
Jp & Associates Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467089
Last Updated: 11/06/2020
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