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1397 Dhaka Drive Rockwall, TX 75087

5 Beds 4 Baths 3,258 sqft Built 2014

$399,900

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $122.74
  • 5 Days on Market
  • MLS # : 14523931
  • Updated Date : 03/05/2021 at 13:38
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,258 sqft
  • Baths : 4 full
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

METICULOUSLY MAINTAINED 2-STORY HOME ON GREENBELT LOT Features 5 Bedrooms(2 down) and 4 Full Baths. Designer Touches Include Custom Built-ins in Mud Area with Decorative Antique door and a Reclaimed Wood Barn Door in Kitchen. Huge Open Kitchen w-5-Burner Gas Cooktop+Granite+SS Appliances+Double Convection Ovens. Recent Paint and Updated Light Fixtures Throughout. Pet, Water and Stain Resistant Wood-look Laminate Plank Flooring added-2018. Wood Shutters and Blinds. Custom Landscaping with 2 New Beautiful Blaze Maple Trees. Huge Grassy Fenced Backyard with Playhouse! Located in Popular Caruth Lakes Featuring *2 Lakes*Pool*Splash Pad*Walking Trail*Bike Trail*Park*Fishing Dock*Pavilion-Picnic Area*Kayak Boat Ramp!

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: Caruth Lake

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Caruth Lake

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
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Herman E. Utley Middle School

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

Rockwall High School

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

$359,910$439,890$399,900

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 -$1,389
Property Tax -$720
Property Insurance -$215
HOA -$44
Property Management Fees -$99
CASH FLOW
$23

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.

$399,900

PROJECTED PRICE

$2,490

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$19,425

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
  • $2,435

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3503$2,4904$2,4955$2,785
$2,785
RENT COMPS ANALYSIS
  • 1397 Dhaka Drive Rockwall, TX 3
    • 5 beds 4 baths ∙ 3,258 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,258 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.76
    •  
  • 449 Sausalito Drive Rockwall, TX 1
    • 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
    •  
  • 627 Lone Rider Court Rockwall, TX 2
    • 5 beds 3 baths ∙ 3,395 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,395 Sqft ∙ Built 2006
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.69
    •  
  • 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
    •  
  • 305 Featherstone Drive Rockwall, TX 5
    • 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2018
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,785
    • $0.84
    •  
PROPERTY LISTING DETAILS
Sharon Archer
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523931
Last Updated: 03/05/2021
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