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1350 Napa Drive Rockwall, TX 75087

4 Beds 3 Baths 2,565 sqft Built 2006

$330,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $128.65
  • 3 Days on Market
  • MLS # : 14474699
  • Updated Date : 11/21/2020 at 09:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,565 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Cute home within walking distance to Grace Hartman Elementary. Beautiful hardwood floors and large kitchen make this home feel cozy. Designated office space with two bedrooms and full bath down the hall. Kitchen has eat in dining and large island. Living room has ample space with fireplace and view of backyard. Master bedroom has en suite bathroom that features spacious closet. Walk upstairs to game room and walk in attic space. Upstairs also features desk area, bathroom and bedroom. Entertain outside with extended backyard patio. This home is located near grocery shopping, pharmacy and eateries. Rockwall ISD

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,218
Property Tax -$594
Property Insurance -$175
HOA -$24
Property Management Fees -$99
CASH FLOW
-$80

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.

$330,000

PROJECTED PRICE

$2,030

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$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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,379

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,052

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$2,0304$2,0955$2,150
$2,150
RENT COMPS ANALYSIS
  • 1350 Napa Drive Rockwall, TX 3
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.79
    •  
  • 755 Geary Drive Rockwall, TX 1
    • 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2005
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.74
    •  
  • 1995 Murifield Avenue Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1994
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 1105 Shores Boulevard Rockwall, TX 4
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 1997
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.87
    •  
  • 1287 Antioch Drive Rockwall, TX 5
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2003
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
PROPERTY LISTING DETAILS
Tilleri Dillon
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474699
Last Updated: 11/21/2020
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