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4198 Ravenbank Drive Rockwall, TX 75087

3 Beds 3 Baths 3,219 sqft Built 2018

$569,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $176.76
  • 5 Days on Market
  • MLS # : 14479944
  • Updated Date : 12/10/2020 at 08:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,219 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Only 13 miles from George Bush Freeway, this incredible amenity packed, meticulously maintained brick & stone 1.5 story home w-sparkling pool-spa overlooking greenbelt features open floor plan, plantation shutters,upscale appliances & flooring, decorative lighting & hardware & is located near great schools, shopping,& minutes from beautiful Lake Ray Hubbard. Open floor plan with all bedrooms located on 1st floor is a plus. Grand foyer features barrel ceiling, art niche, & impressive staircase. Other amenities include 3 car garage, 8 ft fence, tankless water heater, resort style community with park, clubhouse, pool, great location and so much more! You don’t want to miss this move in ready home!

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
 

$512,100$625,900$569,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,099
Property Tax -$1,024
Property Insurance -$213
HOA -$58
Property Management Fees -$99
CASH FLOW
-$944

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.

$569,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.45%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$11

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,712

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6003$2,7854$2,9005$2,900
$2,900
RENT COMPS ANALYSIS
  • 4198 Ravenbank Drive Rockwall, TX 1
    • 3 beds 3 baths ∙ 3,219 Sqft ∙ Built 2018 3 beds 3 baths ∙ 3,219 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.79
    •  
  • 802 Miramar Drive Rockwall, TX 2
    • 4 beds 4 baths ∙ 2,997 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,997 Sqft ∙ Built 2010
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
  • 305 Featherstone Drive Rockwall, TX 3
    • 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2018
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,785
    • $0.84
    •  
  • 775 Bordeaux Drive Rockwall, TX 4
    • 4 beds 4 baths ∙ 3,496 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,496 Sqft ∙ Built 2017
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.83
    •  
  • 2221 Hyer Drive Rockwall, TX 5
    • 3 beds 4 baths ∙ 3,487 Sqft ∙ Built 2013 3 beds 4 baths ∙ 3,487 Sqft ∙ Built 2013
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.83
    •  
PROPERTY LISTING DETAILS
Dee Evans
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479944
Last Updated: 12/10/2020
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