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2040 Ashbourne Drive Rockwall, TX 75087

4 Beds 4 Baths 3,352 sqft Built 2005

$379,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $113.07
  • 4 Days on Market
  • MLS # : 14505951
  • Updated Date : 01/27/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,352 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Beautifully maintained 4 bedroom, 3.5 bath home in desirable Shores. This two story home has plenty of space, to include a separate dining room and separate office. There is also a very large gameroom on the second floor. The secondary bedrooms are larger than normal with walk-in closets. The kitchen has beautiful quartz countertops and back splash. There are double convectional ss ovens, an island for prep space and an abundance of cabinets. The family room is large and inviting with beautiful light and views to the back covered patio. The master is at the front of the home affording privacy and separate from the living area. Great Rockwall schools, close to shopping and all community amenities.

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

Neighborhood: Shores North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k359k

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

Neighborhood: Shores North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262421

* 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
 

$341,100$416,900$379,000

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,316
Property Tax -$682
Property Insurance -$221
HOA -$54
Property Management Fees -$99
CASH FLOW
$348

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.

$379,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$47,911

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,707

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,7203$2,7504$2,9005$2,900
$2,900
RENT COMPS ANALYSIS
  • 2040 Ashbourne Drive Rockwall, TX 2
    • 4 beds 4 baths ∙ 3,352 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,352 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $0.81
    •  
  • 1025 Mont Cascades Drive Rockwall, TX 1
    • 5 beds 4 baths ∙ 3,323 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,323 Sqft ∙ Built 2004
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.71
    •  
  • 403 Montrose Drive Rockwall, TX 3
    • 3 beds 3 baths ∙ 3,196 Sqft ∙ Built 2019 3 beds 3 baths ∙ 3,196 Sqft ∙ Built 2019
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.86
    •  
  • 775 Bordeaux Drive Rockwall, TX 4
    • 4 beds 4 baths ∙ 3,496 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,496 Sqft ∙ Built 2017
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.83
    •  
  • 2221 Hyer Drive Rockwall, TX 5
    • 3 beds 4 baths ∙ 3,487 Sqft ∙ Built 2013 3 beds 4 baths ∙ 3,487 Sqft ∙ Built 2013
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.83
    •  
PROPERTY LISTING DETAILS
Deborah Branch
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505951
Last Updated: 01/27/2021
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