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1423 S Alamo Road Rockwall, TX 75087

4 Beds 3 Baths 2,661 sqft Built 1985

$515,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $193.54
  • 3 Days on Market
  • MLS # : 14532712
  • Updated Date : 03/26/2021 at 14:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,661 sqft
  • Baths : 3 full
Listing Agent

Locals Real Estate

Listing Agent's Description

Thoughtfully designed 4bed 3bath home perched high on a hill with view of Lake Ray Hubbard from front porch has been extensively renovated.Brand new white oak wood floors flow throughout.Light airy living room-tall vaulted ceilings large windows equipped with auto shades anchored by inviting fireplace.Custom cabinets,farm sink,SS appliances including Viking oven-cooktop,marble counters-breakfast bar in kitchen. Master bath also boasts marble floors & marble shower plus a serene freestanding tub makes for the ultimate place to soak and relax.Backyard Oasis-privacy fence,large covered patio,cabana & pool is great place for gatherings. New roof & greenhouse. Integrity of style plus location make this a rare find.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Ridge Road Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k346k

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

Neighborhood: Ridge Road Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262188

* 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
 

$463,500$566,500$515,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,789
Property Tax -$927
Property Insurance -$181
Property Management Fees -$99
CASH FLOW
-$666

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.

$515,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$75

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,328

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2553$2,2954$2,3305$2,500
$2,500
RENT COMPS ANALYSIS
  • 1423 S Alamo Road Rockwall, TX 4
    • 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.88
    •  
  • 309 Dartbrook Rockwall, TX 1
    • 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1985
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 405 Carriage Trail Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 1980
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,255
    • $0.88
    •  
  • 214 Glenn Avenue Rockwall, TX 3
    • 3 beds 4 baths ∙ 2,650 Sqft ∙ Built 1981 3 beds 4 baths ∙ 2,650 Sqft ∙ Built 1981
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.87
    •  
  • 203 Woodpark Lane Rockwall, TX 5
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1985
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
PROPERTY LISTING DETAILS
Whitney Thompson
Locals Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532712
Last Updated: 03/26/2021
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