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1650 Sonnet Drive Heath, TX 75126

4 Beds 4 Baths 3,428 sqft Built 2016

$445,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $129.81
  • 2 Days on Market
  • MLS # : 14518559
  • Updated Date : 02/13/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,428 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dfw Fine Properties

Listing Agent's Description

Magnificent previous MODEL. This home has all the bells and whistles. Beautiful landscaping, brick sidewalks, gutters, covered patio, backs to future 9 hole executive course. First 18 holes is ready for play. Must see stunning clubhouse on Lake Ray Hubbard with outstanding views. Swimming, tennis, golf, workout room, his and hers locker rooms, bar, etc. Home boasts white cabinets, white countertops, beautiful island overlooking family room, butlers pantry, beautiful entry and large master bedroom. 3 bedrooms, game room and full functioning media room upstairs. 1 full and 1 half bath down and 2 baths up. Master bath has a seamless shower and granite countertops. This home is a must see.

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: 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
 

$400,500$489,500$445,000

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 -$1,546
Property Tax -$796
Property Insurance -$225
HOA -$165
Property Management Fees -$99
CASH FLOW
$169

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.

$445,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.67%

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

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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$32,736

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
  • $3,245

    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
  • 1650 Sonnet Drive Heath, TX 3
    • 4 beds 4 baths ∙ 3,428 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,428 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
Amy Crawford
Dfw Fine Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518559
Last Updated: 02/13/2021
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