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3221 San Marcos Drive Rockwall, TX 75032

4 Beds 3 Baths 2,971 sqft Built 2019

$407,000

List Price

$3,480

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $136.99
  • 3 Days on Market
  • MLS # : 14506890
  • Updated Date : 01/29/2021 at 17:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,971 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Need a new place to home school the kids, work from home or maybe just a place to get away from it all? This 4 bed, 3 bath with office in Fontana Ranch has a great layout. Hardwood floors in all living areas. Master suite on one side of spacious living room. Office, 2nd bedroom and guest bath off front entry. Huge kitchen with tons of cabinets and granite countertops. Bedrooms 3 & 4 are connected by a shared bathroom with separate vanities and walk-in closets. Covered back patio overlooks a large backyard waiting for your personal touch. Great location! Easy access to I-30.

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

Zip Code: 75032

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k348k

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

Zip Code: 75032

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262288

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$366,300$447,700$407,000

PURCHASE PRICE

$3,132$3,828$3,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,480
EXPENSES Loan Payment -$1,414
Property Tax -$733
Property Insurance -$199
HOA -$40
Property Management Fees -$99
CASH FLOW
$996

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.

$407,000

PROJECTED PRICE

$3,480

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$113,605

INVESTMENT

$113,605

Down Payment
$101,750
Rehab Estimate
$5,750
Closing Costs
$6,105

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,414

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,750
Loan Amount $305,250
See What Happens When You Reinvest Cash Flow

15.33

YEARS SAVED

$102,502

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,480

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $3,446

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4803$3,500
$3,500
RENT COMPS ANALYSIS
  • 3221 San Marcos Drive Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,480
    • $1.17
    •  
  • 14 Tennis Village Drive Heath, TX 1
    • 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2005
    property image
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.05
    •  
  • 1717 Morrish Lane Heath, TX 3
    • 3 beds 3 baths ∙ 2,750 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,750 Sqft ∙ Built 1999
    property image
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.27
    •  
PROPERTY LISTING DETAILS
Patty Turner
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506890
Last Updated: 01/29/2021
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