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1884 Pontchartrain Drive Rockwall, TX 75087

3 Beds 2 Baths 2,607 sqft Built 2000

$424,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $162.98
  • 3 Days on Market
  • MLS # : 14481245
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,607 sqft
  • Baths : 2 full
Listing Agent

Mike Mazyck Realty

Listing Agent's Description

Beautifully updated three bedroom home in a wonderful gated community. The spacious living area opens to the formal dining room. Large island kitchen with granite counters, breakfast bar and stainless appliances along with a breakfast area. Master suite features a master bath with dual vanity, garden tub, and a separate shower. Neighborhood features marina, community pool, and much more!

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: Lakeside Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lakeside Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Virginia Reinhardt Elementary School Primary Regular 581 34 8
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Virginia Reinhardt Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 34
8
GreatSchools Rating

Herman E. Utley Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 40
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$382,410$467,390$424,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,568
Property Tax -$765
Property Insurance -$178
HOA -$132
Property Management Fees -$99
CASH FLOW
-$531

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.

$424,900

PROJECTED PRICE

$2,210

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.6%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,242

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,1504$2,2105$2,300
$2,300
RENT COMPS ANALYSIS
  • 1884 Pontchartrain Drive Rockwall, TX 4
    • 3 beds 2 baths ∙ 2,607 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,607 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.85
    •  
  • 648 Stafford Circle Rockwall, TX 1
    • 3 beds 2 baths ∙ 2,527 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,527 Sqft ∙ Built 2000
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 2906 Starboard Drive Rockwall, TX 2
    • 3 beds 3 baths ∙ 2,393 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,393 Sqft ∙ Built 1980
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 673 Channel Ridge Drive Rockwall, TX 3
    • 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 2002
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.91
    •  
  • 3427 Waterview Trail Rockwall, TX 5
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1983
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.88
    •  
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 #: 14481245
Last Updated: 12/04/2020
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