Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1505 Twin Circle Court Rockwall, TX 75032

4 Beds 3 Baths 2,953 sqft Built 2015

$599,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $202.84
  • 2 Days on Market
  • MLS # : 14518352
  • Updated Date : 02/12/2021 at 17:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,953 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Amazingly perfect home built by Jim Goellner Custom Homes situated on a 1.5 acre cul-de-sac lot. With stained concrete floors through out this home was designed around a gourmet kitchen with a flair to entertain. Split 4 bedrooms with Master and two secondary bedrooms on one side and guest or M-I-L suite on the opposite. The flex room with barn doors fashioned with reclaimed lumber from a tobacco factory in Tennessee is ideal for a TV, den, playroom, or game room. The fireplace mantle is from the same tobacco factory. The out door space has been developed over time with the swimming pool being built in Sept of 2019 and the fire pit area recently constructed the end of January 2021. This home will not last long.

SEE MORE

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

Zip Code: 75032

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k348k

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

Zip Code: 75032

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262288

* 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
Cain Middle School Middle Regular 941 50 7
Rockwall-heath High School High Regular 2,200 119 8
Cain Middle School Middle Unknown NA

Cain Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 50
7
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating

Cain Middle School

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

$539,100$658,900$599,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,081
Property Tax -$1,078
Property Insurance -$198
HOA -$52
Property Management Fees -$99
CASH FLOW
-$258

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.

$599,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$11,013

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $3,366

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$3,225
1$3,2252$3,250
$3,250
RENT COMPS ANALYSIS
  • 1505 Twin Circle Court Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,953 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,953 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.10
    •  
  • 3065 Bridgecreek Drive Rockwall, TX 1
    • 4 beds 4 baths ∙ 2,827 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,827 Sqft ∙ Built 2017
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,225
    • $1.14
    •  
PROPERTY LISTING DETAILS
Wes Dorsey
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518352
Last Updated: 02/12/2021
BESbswy