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3162 Luchenbach Trail Rockwall, TX 75032

4 Beds 3 Baths 2,837 sqft Built 2014

$379,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $133.91
  • 4 Days on Market
  • MLS # : 14473795
  • Updated Date : 11/19/2020 at 21:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,837 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

This rare CUL DE SAC home tucked perfectly away from any through traffic. This Altura home boasts nice wood floors with Master Bedroom Down and study, newly updated paint throughout and new roof installed in 2019. Versatile Flex room on 2nd floor designed for second living but can be great home schooling or project room. Many upgrades throughout and a nice open plan from Kitchen into the living area. Nice sized backyard and a swing entry driveway to park a few cars. Come see this newly listed home today!!

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: Fontanna Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k426k

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

Neighborhood: Fontanna Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262791

* 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
Sharon Shannon Elementary School Primary Regular 580 41 7
Cain Middle School Middle Regular 941 50 7
Rockwall-heath High School High Regular 2,200 119 8

Sharon Shannon Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 41
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
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,402
Property Tax -$684
Property Insurance -$191
HOA -$41
Property Management Fees -$99
CASH FLOW
-$357

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.

$379,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.3%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,489

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,064

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,785
1$1,7852$1,8503$1,9954$2,0005$2,060
$2,060
RENT COMPS ANALYSIS
  • 3162 Luchenbach Trail Rockwall, TX 5
    • 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.73
    •  
  • 2935 Tangleglen Drive Rockwall, TX 1
    • 4 beds 2 baths ∙ 2,515 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,515 Sqft ∙ Built 2003
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.71
    •  
  • 3054 Dusty Ridge Drive Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2004
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 1673 Chesterwood Drive Rockwall, TX 3
    • 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2002
    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
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
PROPERTY LISTING DETAILS
Ben Wright
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 #: 14473795
Last Updated: 11/19/2020
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