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2451 Wagonwheel Drive Rockwall, TX 75032

4 Beds 3 Baths 2,579 sqft Built 2001

$319,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $124.04
  • 4 Days on Market
  • MLS # : 14521455
  • Updated Date : 02/26/2021 at 18:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,579 sqft
  • Baths : 2 full , 1 half
Listing Agent

C. W. Sparks Management

Listing Agent's Description

Beautiful 2 story home with large spacious lot. Home features arched entrances, open study or second living area, large computer station for children, spacious and open living room with brick fireplace, large open kitchen with tons of counter space and huge walk in pantry. Home is located within walking distance to elementary school, amenities center and community 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

Neighborhood: Lofland Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lofland Farms

NeighborhoodNIR 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
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall-heath High School High Regular 2,200 119 8
Rockwall-heath High School High Unknown NA

Herman E. Utley Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 40
8
GreatSchools Rating

Rockwall-heath High School

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

Rockwall-heath High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,111
Property Tax -$576
Property Insurance -$176
HOA -$35
Property Management Fees -$99
CASH FLOW
$53

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.

$319,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7853$1,9954$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 2451 Wagonwheel Drive Rockwall, TX 5
    • 4 beds 3 baths ∙ 2,579 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,579 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.79
    •  
  • 2030 Gleaner Rockwall, TX 1
    • 3 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.67
    •  
  • 2935 Tangleglen Drive Rockwall, TX 2
    • 4 beds 2 baths ∙ 2,515 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,515 Sqft ∙ Built 2003
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.71
    •  
  • 1673 Chesterwood Drive Rockwall, TX 3
    • 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2002
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 2930 Tangleglen Drive Rockwall, TX 4
    • 4 beds 3 baths ∙ 2,669 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,669 Sqft ∙ Built 2003
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
PROPERTY LISTING DETAILS
Dave Mcilrath
C. W. Sparks Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521455
Last Updated: 02/26/2021
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