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2919 Painted Pony Lane Rockwall, TX 75087

4 Beds 2 Baths 2,745 sqft Built 2009

$399,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $145.36
  • 3 Days on Market
  • MLS # : 14474005
  • Updated Date : 11/20/2020 at 15:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,745 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Beautiful revamped home located on an oversized corner lot! The property features freshly painted light gray walls, updated carpet, hand scraped hardwood floors, and decorative ceramic tile in the laundry and two bathrooms. Extra lighting throughout the home has been added which gives the home a brighter feel. All light fixtures have been replaced and updated including ceiling fans in each room. This home also includes a huge bonus room upstairs. Home is located in Rockwall ISD and is minutes from restaurants, shopping, and downtown Rockwall.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Dalton Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k400k

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

Neighborhood: Dalton Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262507

* 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
Celia Hays Elementary School Primary Regular 505 35 8
Celia Hays Elementary School Middle Regular 505 35 8
Rockwall High School High Regular 2,323 134 8

Celia Hays Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 35
8
GreatSchools Rating

Celia Hays Elementary School

  • Education Level: Middle
  • # of students: 505
  • # of teachers: 35
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,472
Property Tax -$718
Property Insurance -$186
HOA -$29
Property Management Fees -$99
CASH FLOW
-$254

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.

$399,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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-$8.0k-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,512

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2503$2,4004$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 2919 Painted Pony Lane Rockwall, TX 2
    • 4 beds 2 baths ∙ 2,745 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,745 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
  • 1494 Red Wolf Drive Rockwall, TX 1
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 1136 Hidden Lakes Way Rockwall, TX 3
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2009
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
  • 1036 Shady Lane Drive Rockwall, TX 4
    • 5 beds 3 baths ∙ 2,801 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,801 Sqft ∙ Built 2016
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 109 Crestbrook Drive Rockwall, TX 5
    • 3 beds 4 baths ∙ 2,579 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,579 Sqft ∙ Built 2013
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kailen Kendzierski
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 #: 14474005
Last Updated: 11/20/2020
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