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2360 Lake Forest Drive Rockwall, TX 75087

5 Beds 4 Baths 4,099 sqft Built 2004

$575,000

List Price

$3,450

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $140.28
  • 2 Days on Market
  • MLS # : 14518014
  • Updated Date : 02/27/2021 at 14:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,099 sqft
  • Baths : 4 full
Listing Agent

Regal, Realtors

Listing Agent's Description

Stunning Curb Appeal, with an oversized Corner Lot, on a sought after street! A refreshing saltwater Pool with Waterfalls, inside a large backyard. The home boasts an iron staircase winding towards soaring ceilings. Formal Dining for all occasions. Crown molding, Skip Trowel Texture, Art Niches, Large Game Room, with a small view of the lake. An oversized Media Room, craft room or use it for a 6th bedroom. Gas Cooktop, Convection Oven, Oil Rubbed Bronze Lighting, 3 Car Garage with Extended Parking. Roof replaced May, 2018, Gutters replaced,May 2018,Windows replaced,October 2017 Brand new salt cell for the pool. This house has it all, come make it yours!

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: Hillcrest Shores

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k399k

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

Neighborhood: Hillcrest Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262675

* 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
 

$517,500$632,500$575,000

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$1,997
Property Tax -$1,035
Property Insurance -$264
HOA -$35
Property Management Fees -$99
CASH FLOW
$19

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.

$575,000

PROJECTED PRICE

$3,450

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$27,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,450

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,033

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,1453$3,450
$3,450
RENT COMPS ANALYSIS
  • 2360 Lake Forest Drive Rockwall, TX 3
    • 5 beds 4 baths ∙ 4,099 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,099 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $0.84
    •  
  • 1350 Scarboro Hills Lane Rockwall, TX 1
    • 5 beds 4 baths ∙ 4,000 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,000 Sqft ∙ Built 2006
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.73
    •  
  • 670 Princeton Way Rockwall, TX 2
    • 4 beds 4 baths ∙ 4,128 Sqft ∙ Built 2011 4 beds 4 baths ∙ 4,128 Sqft ∙ Built 2011
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,145
    • $0.76
    •  
PROPERTY LISTING DETAILS
Marjorie Bradford
Regal, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518014
Last Updated: 02/27/2021
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