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215 Dartmouth Drive Rockwall, TX 75032

4 Beds 2 Baths 1,815 sqft Built 2003

$260,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $143.25
  • 4 Days on Market
  • MLS # : 14499533
  • Updated Date : 01/15/2021 at 09:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,815 sqft
  • Baths : 2 full
Listing Agent

Base Realty

Listing Agent's Description

***MULTIPLE OFFERS RECEIVED, PLEASE SUBMIT HIGHEST AND BEST BY 5:00pm JANUARY 16, 2021***** This Beautiful 4 bedroom home in Rockwall is a MUST SEE!! Walk in to an open living area with new vinyl plank flooring throughout the living, dining and kitchen area. This home features a large spacious kitchen, 4 bedrooms, and 2 baths. New paint and updated lighting fixtures throughout the home! Backyard is perfect for hosting with saint Augustine grass, fire pit and citronella lanterns mounted in the trees! There are also two beautiful Japanese maple trees, one in the front yard and one outside the dining room window. Great neighborhood with no HOA and Amazing Rockwall Heath Schools.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Lynden Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k320k

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

Neighborhood: Lynden Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262144

* 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
Amanda Rochell Elementary School Primary Regular 571 40 5
Cain Middle School Middle Regular 941 50 7
Rockwall-heath High School High Regular 2,200 119 8

Amanda Rochell Elementary School

  • Education Level: Primary
  • # of students: 571
  • # of teachers: 40
5
GreatSchools Rating

Cain Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 50
7
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$903
Property Tax -$468
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$68

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$260,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$17,530

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6703$1,6954$1,7955$1,950
$1,950
RENT COMPS ANALYSIS
  • 215 Dartmouth Drive Rockwall, TX 2
    • 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.92
    •  
  • 128 Sequoia Road Rockwall, TX 1
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2003
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 292 Beech Drive Rockwall, TX 3
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2002
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 172 Pinion Lane Rockwall, TX 4
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2001
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
  • 156 Sequoia Road Rockwall, TX 5
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2002
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rebecca Beam
Base Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499533
Last Updated: 01/15/2021
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