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3030 Oak Drive Rockwall, TX 75032

4 Beds 3 Baths 2,438 sqft Built 1995

$389,900

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $159.93
  • 3 Days on Market
  • MLS # : 14469257
  • Updated Date : 11/13/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,438 sqft
  • Baths : 3 full
Listing Agent

Regal, Realtors

Listing Agent's Description

Immaculate one story home with a pool in the highly sought after Fox Chase community with an open floor plan with tons of natural light that has views of the patio and pool. Home features include: hardwood floors, covered patio and grill area, two-way fireplace, new carpet in bedrooms, updated light fixtures, recently updated pool equipment, and close proximity to shopping, Buffalo Creek Golf Club, and The Harbor. This is a must see that won't last long!

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: Foxchase

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Foxchase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Dorothy Smith Pullen Elementary School Primary Regular 610 39 7
Cain Middle School Middle Regular 941 50 7
Rockwall-heath High School High Regular 2,200 119 8

Dorothy Smith Pullen Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 39
7
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
 

$350,910$428,890$389,900

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,439
Property Tax -$702
Property Insurance -$174
HOA -$7
Property Management Fees -$99
CASH FLOW
-$10

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.

$389,900

PROJECTED PRICE

$2,410

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$21,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,367

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1003$2,1254$2,3995$2,410
$2,410
RENT COMPS ANALYSIS
  • 3030 Oak Drive Rockwall, TX 5
    • 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.95
    •  
  • 3145 Bourbon Street Circle Rockwall, TX 1
    • 3 beds 2 baths ∙ 2,252 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,252 Sqft ∙ Built 1991
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
  • 157 Sequoia Road Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 2002
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 264 Victory Lane Rockwall, TX 3
    • 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 1994
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.96
    •  
  • 1820 Bristol Lane Rockwall, TX 4
    • 3 beds 3 baths ∙ 2,485 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,485 Sqft ∙ Built 1999
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.97
    •  
PROPERTY LISTING DETAILS
Leighton Pinkham
Regal, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469257
Last Updated: 11/13/2020
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