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180 Chisholm Ridge Drive Rockwall, TX 75032

5 Beds 4 Baths 4,091 sqft Built 2012

$595,000

List Price

$3,720

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $145.44
  • 2 Days on Market
  • MLS # : 14503576
  • Updated Date : 01/30/2021 at 07:57
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,091 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mike Mazyck Realty

Listing Agent's Description

Lovely 5 bedroom home on 1.92 acres is amazing! Hand scraped wood floors, large kitchen island with beautiful granite, double ovens and a stone fireplace. A game room, media room and an office for all your needs. Master and 2 secondary bedrooms are on main floor making it perfect for guests, nursery or young kids. Gigantic 400 sq. ft covered porch with vaulted cedar ceilings, lights and fans makes a superb entertaining area for friends and family. Have the space you want and still get to shopping and restaurants in either Rockwall or Forney in less than 15 minutes!

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
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
 

$535,500$654,500$595,000

PURCHASE PRICE

$3,348$4,092$3,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,720
EXPENSES Loan Payment -$2,067
Property Tax -$1,071
Property Insurance -$264
HOA -$52
Property Management Fees -$99
CASH FLOW
$168

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.

$595,000

PROJECTED PRICE

$3,720

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,067

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$40,915

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,720

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,846

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,720
1$3,7202$4,100
$4,100
RENT COMPS ANALYSIS
  • 180 Chisholm Ridge Drive Rockwall, TX 1
    • 5 beds 4 baths ∙ 4,091 Sqft ∙ Built 2012 5 beds 4 baths ∙ 4,091 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,720
    • $0.91
    •  
  • 304 Chisholm Ridge Drive Rockwall, TX 2
    • 4 beds 5 baths ∙ 4,348 Sqft ∙ Built 2015 4 beds 5 baths ∙ 4,348 Sqft ∙ Built 2015
    property image
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Mike Mazyck
Mike Mazyck Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503576
Last Updated: 01/30/2021
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