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1585 Sonnet Drive Heath, TX 75126

4 Beds 3 Baths 2,449 sqft Built 2016

INVESTimate

$340,900

List Price

$2,310

$2,079 - $2,541

Rent Est.

$360,536  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $139.20
  • 12 Days on Market
  • MLS # : 14414316
  • Updated Date : 08/18/2020 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,449 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

This pristine home is located in the prestigious Heath Golf and Yacht Club on a perfect corner lot. This home (built in 2016) boasts 2,449 SF including 4 bedrooms and 3 full bathrooms. You are immediately greeted by high ceilings and hand scraped wood floors quickly followed by a spectacular open floor plan. This home features a dream kitchen with gorgeous granite lined counters and island, gas cook-top, and a spectacular butler's pantry. The perfect alignment of the grand windows in the living room and kitchen allows for an amazing flow of natural light. Enjoy the spectacular soaking tub in the primary bathroom which also features an amazing glass shower and his and hers vanity.

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
Amy Parks-heath Elementary School Primary Regular 781 44 9
Amy Parks-heath Elementary School Middle Regular 781 44 9
Rockwall-heath High School High Regular 2,200 119 8

Amy Parks-heath Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Amy Parks-heath Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Rockwall-heath High School

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

$306,810$374,990$340,900

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,258
Property Tax -$610
Property Insurance -$169
HOA -$185
Property Management Fees -$99
CASH FLOW
-$10

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.

$340,900

PROJECTED PRICE

$2,310

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,089

INVESTMENT

$96,089

Down Payment
$85,225
Rehab Estimate
$5,750
Closing Costs
$5,114

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,258

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,225
Loan Amount $255,675
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$16,727

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,265

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1504$2,3005$2,310
$2,310
RENT COMPS ANALYSIS
  • 1585 Sonnet Drive Heath, TX 5
    • 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.94
    •  
  • 2127 Hartley Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2014
    LEASED 06/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 1229 Mt Olive Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2018
    LEASED 02/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 2014 Sage Brush Drive Forney, TX 3
    • 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
  • 114 Dunford Drive Heath, TX 4
    • 3 beds 2 baths ∙ 2,168 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,168 Sqft ∙ Built 2002
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
PROPERTY LISTING DETAILS
Kristin Anderson
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414316
Last Updated: 08/18/2020
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