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2068 State Highway 66 Rockwall, TX 75087

3 Beds 3 Baths 2,325 sqft Built 2000

$325,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $139.78
  • 7 Days on Market
  • MLS # : 14467530
  • Updated Date : 11/09/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,325 sqft
  • Baths : 2 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

Welcome Home! Zoned Agricultural, this spacious 1 acre property in Rockwall ISD is waiting for you! Beautifully built & lovingly maintained, this 2 story home has plenty of space for a growing family or anyone who appreciates country life with all of the amenities of city living. The open floor plan makes it easy for entertaining friends & family, who will also enjoy the large outdoor deck & swimming pool!

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: 75087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75087

ZipNIR 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
Howard Dobbs Elementary School Primary Regular 624 43 7
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Howard Dobbs Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 43
7
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,199
Property Tax -$585
Property Insurance -$162
Property Management Fees -$99
CASH FLOW
$85

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.

$325,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.66%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$26,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,180

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9953$1,9954$2,1305$2,400
$2,400
RENT COMPS ANALYSIS
  • 2068 State Highway 66 Rockwall, TX 4
    • 3 beds 3 baths ∙ 2,325 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,325 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.92
    •  
  • 1215 Hampton Bay Drive Rockwall, TX 1
    • 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.83
    •  
  • 1413 Palasades Court Rockwall, TX 2
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2014
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
  • 1432 Palasades Rockwall, TX 3
    • 4 beds 2 baths ∙ 2,111 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,111 Sqft ∙ Built 2013
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 1136 Hidden Lakes Way Rockwall, TX 5
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2009
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
PROPERTY LISTING DETAILS
Amanda Simcoe
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467530
Last Updated: 11/09/2020
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