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1960 Random Oaks Drive Rockwall, TX 75087

4 Beds 3 Baths 2,343 sqft Built 1997

$330,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $140.85
  • 3 Days on Market
  • MLS # : 14514167
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,343 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates Rockwall

Listing Agent's Description

Check out this beautiful 4 bed, 2.5 bath move-in ready home! Situated on an oversized pie shaped cul-de-sac lot with long gated driveway just minutes from the lake & golf course. Bright and open floor plan features a spacious kitchen with roll out shelves, quartz countertops, and stainless appliances. Beautiful wood floors in the dining, living, master and guest bedroom. Upstairs features a LARGE game room that is perfect for entertaining! The HUGE backyard features board on board privacy fence, 16x12 building with electricity & AC - perfect for private office or 'she shed.' Rear entry gate that encloses driveway and garage and still plenty of room for a pool! Don't miss out on this one of a kind property!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Random Oaks at the Shores

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Random Oaks at the Shores

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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

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

$297,000$363,000$330,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,146
Property Tax -$594
Property Insurance -$163
HOA -$27
Property Management Fees -$99
CASH FLOW
$91

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.

$330,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$22,297

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,097

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0003$2,1204$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 1960 Random Oaks Drive Rockwall, TX 3
    • 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.90
    •  
  • 486 Presidio Drive Rockwall, TX 1
    • 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 2007
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.89
    •  
  • 1494 Red Wolf Drive Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 1545 Avonlea Drive Rockwall, TX 4
    • 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2003
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.93
    •  
  • 2055 Berkdale Lane Rockwall, TX 5
    • 4 beds 2 baths ∙ 2,326 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,326 Sqft ∙ Built 2006
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Terra Carter
Jp & Associates Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514167
Last Updated: 02/05/2021
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