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2140 Heather Glen Drive Rockwall, TX 75087

3 Beds 2 Baths 2,275 sqft Built 2006

$327,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.13
  • 4 Days on Market
  • MLS # : 14540485
  • Updated Date : 03/25/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,275 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Beautiful 3 bedroom, 2 full bathroom, 1 story home in Shores North! You will love entertaining in the family room relaxing by the gorgeous gas fireplace with stone surround the ceiling as your centerpiece. The stylish kitchen is open to the living and features custom cabinets, granite, gas cooktop, and stainless steel appliances. Primary bedroom is a welcoming retreat with an ensuite bathroom offering dual sinks, a deep soaking tub, a separate shower, and a large walk-in closet. Working from home just got easier in this spacious office with French doors. Enjoy the private backyard with a patio. New roof installed 2021. HOA amenities include a community pool and clubhouse.

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: 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
 

$295,110$360,690$327,900

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 -$1,139
Property Tax -$590
Property Insurance -$159
HOA -$54
Property Management Fees -$99
CASH FLOW
$80

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.

$327,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.65%

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

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$92,644

INVESTMENT

$92,644

Down Payment
$81,975
Rehab Estimate
$5,750
Closing Costs
$4,919

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,139

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,975
Loan Amount $245,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,912

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
  • $0.93

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,1204$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 2140 Heather Glen Drive Rockwall, TX 3
    • 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.93
    •  
  • 2670 Eganridge Lane Rockwall, TX 1
    • 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2004
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.98
    •  
  • 1330 Clear Meadow Court Rockwall, TX 2
    • 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2005
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 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 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540485
Last Updated: 03/25/2021
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