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1501 Hickory Creek Lane #75032 Rockwall, TX 75032

5 Beds 3 Baths 3,568 sqft Built 2001

$325,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $91.09
  • 3 Days on Market
  • MLS # : 14514079
  • Updated Date : 02/05/2021 at 23:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,568 sqft
  • Baths : 3 full
Listing Agent

Bold Realty

Listing Agent's Description

Hurry this one won't last long! Newly updated home in an established neighborhood! Open kitchen with white subway tiles with granite countertops for entertaining Plenty of space for the family with 2 living rooms, dining room and nice game room for the kids! Master is very spacious with walk-in closet. Newer AC, water heater, new windows and tiles have been regrouted!!. Garage has new Vynil flake epoxy flooring and backyard has plenty of room for family barbecues!!No shortcuts were taken on this home!! Wont be able to go FHA until 3-17-21.

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: 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
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall-heath High School High Regular 2,200 119 8
Rockwall-heath High School High Unknown NA

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

Rockwall-heath High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,129
Property Tax -$585
Property Insurance -$233
HOA -$20
Property Management Fees -$99
CASH FLOW
$124

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.

$325,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.67%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$24,320

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $2,165

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,1904$2,250
$2,250
RENT COMPS ANALYSIS
  • 1501 Hickory Creek Lane Rockwall, TX 3
    • 5 beds 3 baths ∙ 3,568 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,568 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.61
    •  
  • 1507 Walnut Ridge Drive Rockwall, TX 1
    • 5 beds 3 baths ∙ 3,349 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,349 Sqft ∙ Built 2002
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.60
    •  
  • 1514 Glenwick Drive Rockwall, TX 2
    • 4 beds 3 baths ∙ 3,359 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,359 Sqft ∙ Built 2001
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.59
    •  
  • 1531 Englewood Drive Rockwall, TX 4
    • 5 beds 3 baths ∙ 3,548 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,548 Sqft ∙ Built 2000
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.63
    •  
PROPERTY LISTING DETAILS
Patty Torrens
Bold Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514079
Last Updated: 02/05/2021
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