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1391 Glenwick Drive Rockwall, TX 75032

3 Beds 2 Baths 1,564 sqft Built 2000

$248,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $158.57
  • 7 Days on Market
  • MLS # : 14468007
  • Updated Date : 11/09/2020 at 18:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,564 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Must See this Charming Home with Open Floor Plan, Wood Burning Fireplace, and Wood Floors through out home. Large Master Bedroom with a Master Bath that offers separate shower, dual sinks, and large walk-in closet. The home has plenty of windows that makes this home light and bright. Kitchen has granite counter tops, stainless steel appliances, island, and tile flooring. Utility room with washer and dryer Outside you will find an open patio and a nice large privacy fenced backyard for your family, friends, and pets to enjoy. Conveniently located to highways, shopping, dining, lake, local parks, and schools. Home located across street from park, playground,and walking trails. GREAT LOCATION and SCHOOLS!

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: Meadowcreek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Meadowcreek Estates

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
Dorris A. Jones Elementary School Primary Regular 609 43 7
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall-heath High School High Regular 2,200 119 8

Dorris A. Jones Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 43
7
GreatSchools Rating

Herman E. Utley Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 40
8
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$223,200$272,800$248,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$915
Property Tax -$447
Property Insurance -$118
HOA -$80
Property Management Fees -$99
CASH FLOW
-$98

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.

$248,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.2%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,470

INVESTMENT

$71,470

Down Payment
$62,000
Rehab Estimate
$5,750
Closing Costs
$3,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,000
Loan Amount $186,000
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$6,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,548

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,6253$1,6954$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 1391 Glenwick Drive Rockwall, TX 1
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.00
    •  
  • 1478 Stewart Drive Rockwall, TX 2
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2000
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.95
    •  
  • 1518 Madison Drive Rockwall, TX 3
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2001
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 1478 Glenwick Drive Rockwall, TX 4
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1999
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 1472 Glenwick Drive Rockwall, TX 5
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1999
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
PROPERTY LISTING DETAILS
David Starr
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468007
Last Updated: 11/09/2020
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