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1614 Sonnet Rockwall, TX 75032

4 Beds 3 Baths 2,589 sqft Built 2020

INVESTimate

$339,343

List Price

$2,460

$2,214 - $2,706

Rent Est.

$358,075  ( +5.52%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $131.07
  • 7 Days on Market
  • MLS # : 14417888
  • Updated Date : 08/25/2020 at 15:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,589 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14417888 - Built by Altura Homes - August completion! ~ Inviting 4-2.5-2 in a desirable resort community.. Conveniently located to a beautiful clubhouse, lake and school. Functional floorplan boasts two living areas, isolated master, walk-in closets and chef's delight kitchen. Come make your dreams come true.

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
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
 

$305,409$373,277$339,343

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,252
Property Tax -$611
Property Insurance -$177
HOA -$60
Property Management Fees -$99
CASH FLOW
$261

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$339,343

PROJECTED PRICE

$2,460

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.52%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,926

INVESTMENT

$91,926

Down Payment
$84,836
Rehab Estimate
$2,000
Closing Costs
$5,090

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,252

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,836
Loan Amount $254,507
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$50,236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,473

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1504$2,4605$3,195
$3,195
RENT COMPS ANALYSIS
  • 1614 Sonnet Rockwall, TX 4
    • 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.95
    •  
  • 2127 Hartley Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2014
    property image
    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
    property image
    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
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
  • 420 Normandy Lane Heath, TX 5
    • 5 beds 4 baths ∙ 2,716 Sqft ∙ Built 2002 5 beds 4 baths ∙ 2,716 Sqft ∙ Built 2002
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.18
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417888
Last Updated: 08/25/2020
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