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1549 Sonnet Drive Heath, TX 75126

5 Beds 4 Baths 3,399 sqft Built 2016

$465,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $136.80
  • 5 Days on Market
  • MLS # : 14534797
  • Updated Date : 03/19/2021 at 12:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,399 sqft
  • Baths : 4 full
Listing Agent

Re/max Elite

Listing Agent's Description

If your dream is to live at the country club, golfing when you want, tennis when you want, boat slips, smimming pools and the lifestyle of life at the resort, this is your home. Inside the home: natural light from walls of windows. 5 burner gas cook top, double ovens and soft close cabinetry. in the amazing kitchen. Beautiful open spaces, seperate, but together in over 3300 sq ft of HOME. Used as a model with Redition homes. Live your resort life with amenties like amenities such as club house with fitness room, golf club, walking trails, greenbelts and boat slips.

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k538k

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263246

* 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
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$1,615
Property Tax -$832
Property Insurance -$224
HOA -$185
Property Management Fees -$99
CASH FLOW
$45

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.

$465,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$22,862

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $3,218

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0003$3,0004$3,195
$3,195
RENT COMPS ANALYSIS
  • 1549 Sonnet Drive Heath, TX 3
    • 5 beds 4 baths ∙ 3,399 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,399 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.88
    •  
  • 121 Stoneleigh Drive Heath, TX 1
    • 4 beds 3 baths ∙ 3,246 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,246 Sqft ∙ Built 2002
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.92
    •  
  • 2073 Fm 740 Heath, TX 2
    • 4 beds 3 baths ∙ 3,172 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,172 Sqft ∙ Built 2002
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
  • 2073 Trophy Drive Heath, TX 4
    • 4 beds 3 baths ∙ 3,309 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,309 Sqft ∙ Built 2017
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $0.97
    •  
PROPERTY LISTING DETAILS
Lucinda Gadson
Re/max Elite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534797
Last Updated: 03/19/2021
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