Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4197 Lorion Drive Rockwall, TX 75087

4 Beds 5 Baths 4,297 sqft Built 2015

INVESTimate

$590,000

List Price

$3,250

$3,000 - $3,500

Rent Est.

$626,757  ( +6.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $137.31
  • 3 Days on Market
  • MLS # : 14419680
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,297 sqft
  • Baths : 3 full , 2 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

YES, THIS IS AS GOOD AS IT LOOKS! Immaculate Windsor home boasts a timeless customized feel that buyer's are looking for today. Modern front door opens to grand entryway featuring towering ceilings, arched doorways, curved staircase, hw floors, French doors lead to home office. Open Master suite & guest bedroom with 2 full baths, half bath, and a private study downstairs. Two additional bedrooms with jack & jill bath, a spacious & bright second living area, and a media room upstairs! Get ready to relax & enjoy the SUNSET views overlooking the greenbelt from the HUGE covered patio & backyard. All this and within minutes you’ll find Rockwall ISD’s exemplary schools, restaurants, and shopping. This IS the ONE!

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: 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
Celia Hays Elementary School Primary Regular 505 35 8
Celia Hays Elementary School Middle Regular 505 35 8
Rockwall High School High Regular 2,323 134 8

Celia Hays Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 35
8
GreatSchools Rating

Celia Hays Elementary School

  • Education Level: Middle
  • # of students: 505
  • # of teachers: 35
8
GreatSchools Rating

Rockwall High School

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

$531,000$649,000$590,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,177
Property Tax -$1,062
Property Insurance -$275
HOA -$58
Property Management Fees -$99
CASH FLOW
-$422

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.

$590,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.23%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,908

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9953$2,9954$3,250
$3,250
RENT COMPS ANALYSIS
  • 4197 Lorion Drive Rockwall, TX 4
    • 4 beds 5 baths ∙ 4,297 Sqft ∙ Built 2015 4 beds 5 baths ∙ 4,297 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.76
    •  
  • 1980 Creekside Drive Rockwall, TX 1
    • 5 beds 5 baths ∙ 4,279 Sqft ∙ Built 2000 5 beds 5 baths ∙ 4,279 Sqft ∙ Built 2000
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.68
    •  
  • 1055 Pinehurst Drive Rockwall, TX 2
    • 4 beds 4 baths ∙ 4,400 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,400 Sqft ∙ Built 2005
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.68
    •  
  • 925 Mont Cascades Drive Rockwall, TX 3
    • 4 beds 4 baths ∙ 4,464 Sqft ∙ Built 2006 4 beds 4 baths ∙ 4,464 Sqft ∙ Built 2006
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.67
    •  
PROPERTY LISTING DETAILS
Jaime Melcher
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419680
Last Updated: 08/25/2020
BESbswy