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1538 Petaluma Drive Rockwall, TX 75087

4 Beds 3 Baths 2,969 sqft Built 2018

$415,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $139.78
  • 2 Days on Market
  • MLS # : 14518526
  • Updated Date : 02/13/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,969 sqft
  • Baths : 2 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

This beautiful home is ready for your family. The enormous backyard backs up to the nature trails at Squabble Creek. When you walk in you will notice the amazing wood like tile floors throughout the home. The perfect master retreat has plenty of room for a sitting area plus the master bathroom boast of double vanities huge walk in closets and a beautiful sunken tub. This open gourmet dream kitchen with granite, Frigidaire appliances and upgraded cabinets will be perfect for your family. Just wait until you witness the unbelievable view from the amazing covered patio. The backyard is one of the biggest in the neighborhood and will fit any size pool you desire. Grace Hartman is one of the most desirable schools.

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

Neighborhood: Lakeview Summit

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lakeview Summit

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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,441
Property Tax -$747
Property Insurance -$199
HOA -$21
Property Management Fees -$99
CASH FLOW
-$207

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.

$415,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$6,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,338

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2004$2,3005$2,750
$2,750
RENT COMPS ANALYSIS
  • 1538 Petaluma Drive Rockwall, TX 4
    • 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 449 Sausalito Drive Rockwall, TX 1
    • 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2003
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.69
    •  
  • 1354 Calistoga Drive Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,810 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,810 Sqft ∙ Built 2002
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 940 Shores Boulevard Rockwall, TX 3
    • 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 1998
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 715 Cornell Drive Rockwall, TX 5
    • 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,067 Sqft ∙ Built 2015
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
PROPERTY LISTING DETAILS
Dustin Carlock
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518526
Last Updated: 02/13/2021
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