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2730 Massey Lane Rockwall, TX 75032

4 Beds 2 Baths 1,877 sqft Built 2004

$289,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $154.45
  • 4 Days on Market
  • MLS # : 14539839
  • Updated Date : 03/27/2021 at 12:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,877 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Beautiful and well cared for home in Lofland Farms. This versatile floorplan offers 4 split bedrooms, a formal dining, a large open kitchen overlooking the family room and a 2 car rear entry garage. Updates include wood floors, HVAC 2018, Roof and gutters 2019, board on board fence 2019, stainless steel appliances and much more. This certified smart home also includes a digital thermostat, garage door opener and sprinkler system all operable from your smart phone. The backyard is spacious with plenty of room for a garden or a pool. Bring your buyers today, this one won't last long.

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: 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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,007
Property Tax -$522
Property Insurance -$136
HOA -$35
Property Management Fees -$99
CASH FLOW
-$59

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.

$289,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

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

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,740
1$1,7402$1,7503$1,7504$1,7955$1,925
$1,925
RENT COMPS ANALYSIS
  • 2730 Massey Lane Rockwall, TX 1
    • 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.93
    •  
  • 2161 Garrison Drive Rockwall, TX 2
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2003
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.02
    •  
  • 3481 Bristlecone Court Rockwall, TX 3
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 2004
    property image
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 2030 Harvester Drive Rockwall, TX 4
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2004
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.06
    •  
  • 2011 Harvester Drive Rockwall, TX 5
    • 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2004
    property image
    LEASED 03/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.02
    •  
PROPERTY LISTING DETAILS
Amy Britt
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539839
Last Updated: 03/27/2021
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