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370 Eva Place Rockwall, TX 75032

3 Beds 2 Baths 1,332 sqft Built 1990

$195,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $146.40
  • 6 Days on Market
  • MLS # : 14513317
  • Updated Date : 02/09/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,332 sqft
  • Baths : 2 full
Listing Agent

William Davis Realty

Listing Agent's Description

LOCATION! LOCATION!! LOCATION!!, lake front home in the city of Rockwall. This home sits on approximately half an acre lot. Newly updated with open floor plan and large family room. Kitchen is open to living room, with all new appliances, update includes paint, flooring, appliances, plumbing fixtures & light fixtures. Masters bathroom and 2 other bedrooms with modern full bathroom. Nice backyard surrounded with trees. Amazing location few minutes from I-30 & Horizon near shopping and restaurants. New AC, New water heater, foundation repair completed with transferable warranty.

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.
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$677
Property Tax -$351
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
$298

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.

$195,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.78%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

12.08

YEARS SAVED

$36,315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,592

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,4953$1,5304$1,5495$1,605
$1,605
RENT COMPS ANALYSIS
  • 370 Eva Place Rockwall, TX 3
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.15
    •  
  • 625 Tubbs Road Rockwall, TX 1
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1999
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $1.16
    •  
  • 111 Bream Drive Rockwall, TX 2
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1988
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.32
    •  
  • 609 Trout Street Rockwall, TX 4
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1984
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.19
    •  
  • 352 Lakeside Rockwall, TX 5
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1981
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,605
    • $1.11
    •  
PROPERTY LISTING DETAILS
Gloria Igo-opurum
William Davis Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513317
Last Updated: 02/09/2021
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