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1441 Pilgrim Court Rockwall, TX 75087

4 Beds 2 Baths 2,271 sqft Built 2003

$295,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $129.90
  • 4 Days on Market
  • MLS # : 14474518
  • Updated Date : 11/21/2020 at 18:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,271 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

Exquisite 4 bedroom 2 full bath one-story on a quiet cul-de-sac, just a block from the trailhead at lovely Raymond Cameron Lake Park! With a beautiful stone elevation and lovely front & back landscaping, you’ve found the perfect location - if you move fast! Brand new lifetime-warranty water-proof floors in the formal dining and living rooms with a gas fireplace and new carpet throughout give this gem a cozy but luxurious feel! A huge kitchen with lots of natural light, views to the oversized backyard, SS appliances and gas cooking will delight! Master suite has huge walk-ins and sliding door access to bedroom #4 - ideal as office, nursery, gym, etc. This ultra-desirable home will go very quickly!!

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: Quail Run Valley

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Quail Run Valley

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
Celia Hays Elementary School Primary Regular 505 35 8
Celia Hays Elementary School Middle Regular 505 35 8
Rockwall High School High Regular 2,323 134 8

Celia Hays Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 35
8
GreatSchools Rating

Celia Hays Elementary School

  • Education Level: Middle
  • # of students: 505
  • # of teachers: 35
8
GreatSchools Rating

Rockwall High School

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

$265,500$324,500$295,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,088
Property Tax -$531
Property Insurance -$158
HOA -$25
Property Management Fees -$99
CASH FLOW
$48

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.

$295,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.9%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$20,998

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,067

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,8453$1,9504$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 1441 Pilgrim Court Rockwall, TX 4
    • 4 beds 2 baths ∙ 2,271 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,271 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 602 Lone Rider Court Rockwall, TX 1
    • 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 2005
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.86
    •  
  • 1103 Morning Star Rockwall, TX 2
    • 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 1997
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.87
    •  
  • 616 Big Oak Court Rockwall, TX 3
    • 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 1998
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 126 Bob White Court Rockwall, TX 5
    • 4 beds 2 baths ∙ 2,121 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,121 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
PROPERTY LISTING DETAILS
Brandi Duncan
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474518
Last Updated: 11/21/2020
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