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4 Pringle Lane Rockwall, TX 75087

4 Beds 2 Baths 2,488 sqft Built 1982

$360,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $144.69
  • 3 Days on Market
  • MLS # : 14525181
  • Updated Date : 03/26/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,488 sqft
  • Baths : 2 full
Listing Agent

Ziglar Realty

Listing Agent's Description

NO HOA! Lovely, serene setting in BY with pergola and POOL on 1 acre. This 4BR home will give you space to roam. Large LR with WBF. Kitchen has been updated with granite counter tops & new ceramic tile. Bar seating & breakfast nook. 2 BRs are separate from others with updated bathroom. Large Master BR, fits a king bed and has attached bathroom. 4th bedroom makes a great office near MB. HUGE 2nd living room has custom built in shelves along two walls- great for library or game room - that leads to the pool & fenced BY. Separate detached garage being used as workshop with parking spot next to it for boat or RV. Also a shed for added storage. Pool has new filter in 2021 & was resurfaced and new decking in 2017!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

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

$324,000$396,000$360,000

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 -$1,250
Property Tax -$648
Property Insurance -$171
Property Management Fees -$99
CASH FLOW
$82

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.

$360,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.63%

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$23,172

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
  • $0.9

    LIST RENT PER SQFT
  • $1,941

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9953$2,0954$2,1955$2,250
$2,250
RENT COMPS ANALYSIS
  • 4 Pringle Lane Rockwall, TX 5
    • 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 1982 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 1955 Wind Hill Road Rockwall, TX 1
    • 4 beds 2 baths ∙ 2,549 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,549 Sqft ∙ Built 1983
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.74
    •  
  • 1995 Murifield Avenue Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1994
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 7127 Harlan Drive Rockwall, TX 3
    • 4 beds 2 baths ∙ 2,585 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,585 Sqft ∙ Built 1999
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.81
    •  
  • 845 Bear Branch Court Rockwall, TX 4
    • 4 beds 2 baths ∙ 2,668 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,668 Sqft ∙ Built 2001
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
PROPERTY LISTING DETAILS
Deanna Markham
Ziglar Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525181
Last Updated: 03/26/2021
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