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1455 Madison Drive Rockwall, TX 75032

5 Beds 3 Baths 2,935 sqft Built 1999

$239,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $81.43
  • 5 Days on Market
  • MLS # : 14463166
  • Updated Date : 10/30/2020 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,935 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gsi Investments, Llc

Listing Agent's Description

GREAT INVESTOR PROPERTY AS IS : LOCATED ACROSS THE STREET FROM A PARK & WALKING TRAIL, ALMOST 3,000 SQF HOME, STAINLESS STEEL FRIDGE, TILE IN KITCHEN,& HUGE LAUNDRY ROOM. THE MASTER BEDROOM IS DOWNSTAIRS 4 BEDROOMS UPSTAIRS WITH A SPACIOUS LIVING AREA. BUYER NEEDS TO VERFIY ROOM SIZES & SCHOOLS.

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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
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$882
Property Tax -$430
Property Insurance -$197
HOA -$20
Property Management Fees -$99
CASH FLOW
$272

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.

$239,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.79%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$40,478

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8503$1,8954$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 1455 Madison Drive Rockwall, TX 4
    • 5 beds 3 baths ∙ 2,935 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,935 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.65
    •  
  • 2840 Clear Creek Drive Rockwall, TX 1
    • 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 2003
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.60
    •  
  • 1483 Hickory Creek Lane Rockwall, TX 2
    • 5 beds 3 baths ∙ 2,908 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,908 Sqft ∙ Built 2001
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.64
    •  
  • 2810 Clear Creek Drive Rockwall, TX 3
    • 4 beds 3 baths ∙ 3,024 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,024 Sqft ∙ Built 2003
    property image
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.63
    •  
  • 1415 Glenwick Drive Rockwall, TX 5
    • 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2000
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
PROPERTY LISTING DETAILS
Toshia Brown
Gsi Investments, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463166
Last Updated: 10/30/2020
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