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1288 Stanford Drive Rockwall, TX 75087

4 Beds 3 Baths 2,845 sqft Built 2004

$349,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $122.99
  • 4 Days on Market
  • MLS # : 14507903
  • Updated Date : 01/29/2021 at 10:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,845 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Wonderful 4-bedroom home in Lakeview Summit. Versatile layout with second living, formal dining and game room. Spacious living area featuring high ceilings and gas log fireplace. Open kitchen with stainless steel appliances, tile backsplash, center island, and breakfast area. Master suite with en-suite bath, dual sinks, jetted tub, separate shower, and huge walk-in. Cover patio overlooks large backyard with stained wood fence with steel posts. Close to shopping and dining. Don't miss this one!

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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

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

$314,910$384,890$349,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,215
Property Tax -$630
Property Insurance -$192
HOA -$26
Property Management Fees -$99
CASH FLOW
-$92

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.

$349,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.59%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,557

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,162

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,1003$2,2004$2,2105$2,300
$2,300
RENT COMPS ANALYSIS
  • 1288 Stanford Drive Rockwall, TX 1
    • 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.73
    •  
  • 449 Sausalito Drive Rockwall, TX 2
    • 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2003
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.69
    •  
  • 1354 Calistoga Drive Rockwall, TX 3
    • 4 beds 3 baths ∙ 2,810 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,810 Sqft ∙ Built 2002
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 1285 Shores Boulevard Rockwall, TX 4
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1997
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.77
    •  
  • 565 Lone Rider Court Rockwall, TX 5
    • 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 2006
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
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 #: 14507903
Last Updated: 01/29/2021
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