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1619 Rocky Point Drive Lewisville, TX 75077

4 Beds 2 Baths 2,014 sqft Built 1980

$285,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $141.51
  • 3 Days on Market
  • MLS # : 14481493
  • Updated Date : 12/05/2020 at 10:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,014 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Absolutely adorable 1 story in Lewisville, rare find with 4 bedrooms in this neighborhood. Large open living and dining area with floor to ceiling fireplace. Granite in kitchen and bathrooms, new carpet, roof was replaced August of 2017, foundation 2017 with transferable warranty. Zoned in Highland Village & Flower Mound schools. Call to set up a private viewing!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Highpoint

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $107k290k

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

Neighborhood: Highpoint

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10921939

* 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
Highland Village Elementary School Primary Regular 353 27 6
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Highland Village Elementary School

  • Education Level: Primary
  • # of students: 353
  • # of teachers: 27
6
GreatSchools Rating

Briarhill Middle School

  • Education Level: Middle
  • # of students: 955
  • # of teachers: 66
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,052
Property Tax -$491
Property Insurance -$135
Property Management Fees -$99
CASH FLOW
$83

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$24,785

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,816

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7953$1,7954$1,8505$1,860
$1,860
RENT COMPS ANALYSIS
  • 1619 Rocky Point Drive Lewisville, TX 5
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.99
    •  
  • 1628 Reno Run Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 1980
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.88
    •  
  • 1902 Aspen Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1978
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
  • 1926 Ruidoso Run Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1980
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
  • 1930 Aspen Drive Lewisville, TX 4
    • 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1978
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kimberly Elmer
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481493
Last Updated: 12/05/2020
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