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1344 Napa Drive Rockwall, TX 75087

4 Beds 3 Baths 3,263 sqft Built 2006

$349,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $106.96
  • 3 Days on Market
  • MLS # : 14491820
  • Updated Date : 01/08/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,263 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Fantastic Family Home is awesome neighborhood, Community Pool, close to shopping and freeways. 4 bedroom home features a dramatic entry, Soaring 22 foot ceilings, Hardwood Flooring, (no carpet). Granite, Private Master Retreat with seating area. Walk in closets, jetted tub, double sinks. 2 Large Living Areas on main level and 16x20 game room. Open floor plan with lots of Natural Lighting. A must see, will be active on Jan 7. 2021

SEE MORE

MARKET HIGHLIGHTS

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

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
 

$314,100$383,900$349,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,212
Property Tax -$628
Property Insurance -$216
HOA -$21
Property Management Fees -$99
CASH FLOW
$314

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.

$349,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.71%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$43,692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,513

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3403$2,4904$2,4955$2,500
$2,500
RENT COMPS ANALYSIS
  • 1344 Napa Drive Rockwall, TX 3
    • 4 beds 3 baths ∙ 3,263 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,263 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.76
    •  
  • 1405 Shores Boulevard Rockwall, TX 1
    • 3 beds 3 baths ∙ 2,941 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,941 Sqft ∙ Built 1997
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 1039 Arbor View Place Rockwall, TX 2
    • 5 beds 3 baths ∙ 3,071 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,071 Sqft ∙ Built 1996
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.76
    •  
  • 1380 Napa Drive Rockwall, TX 4
    • 4 beds 3 baths ∙ 3,221 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,221 Sqft ∙ Built 2007
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.77
    •  
  • 2055 Club Lake Circle Rockwall, TX 5
    • 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2001
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
PROPERTY LISTING DETAILS
Theresa Hoedebeck
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491820
Last Updated: 01/08/2021
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