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449 Chippendale Drive Heath, TX 75032

4 Beds 4 Baths 3,108 sqft Built 1993

$539,000

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $173.42
  • 6 Days on Market
  • MLS # : 14459727
  • Updated Date : 10/31/2020 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,108 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Looking for space to spread out? This Gorgeous 1 STORY Custom Home on 1.04 ACRES awaits you! Located in the heart of Heath in the highly desirable, established neighborhood of Crestridge Meadows, you'll enjoy the Peaceful Living this 1 Acre Custom Community offers! Generous Floorplan features Large Study, Flex Rm ideal to use as a Play Rm or Additional Study Area, 2nd Master Suite, Oversized Bed Rms w Jack & Jill Bath + Large Closets & Spacious Master Suite w Vaulted Ceiling & Large Walk-In Closet! Recent Updates: Full Kitchen Remodel w Quartz C-Tops, Subway Tile, Induction Cooktop & SS-Appliances + Plantation Shutters, Interior Paint & HVAC Units Replaced. Just minutes away from Top Rated Rockwall ISD Schools!

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

Neighborhood: Crestridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Crestridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Amy Parks-heath Elementary School Primary Regular 781 44 9
Amy Parks-heath Elementary School Middle Regular 781 44 9
Rockwall-heath High School High Regular 2,200 119 8

Amy Parks-heath Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Amy Parks-heath Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$1,989
Property Tax -$965
Property Insurance -$207
HOA -$13
Property Management Fees -$99
CASH FLOW
-$372

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.

$539,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,899

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $3,015

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0003$3,0004$3,3005$3,495
$3,495
RENT COMPS ANALYSIS
  • 449 Chippendale Drive Heath, TX 1
    • 4 beds 4 baths ∙ 3,108 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,108 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.93
    •  
  • 1012 Native Trail Heath, TX 2
    • 5 beds 3 baths ∙ 3,140 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,140 Sqft ∙ Built 2002
    LEASED 05/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.96
    •  
  • 121 Stoneleigh Drive Heath, TX 3
    • 4 beds 3 baths ∙ 3,246 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,246 Sqft ∙ Built 2002
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.92
    •  
  • 4 Tennis Village Drive Heath, TX 4
    • 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2001
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.97
    •  
  • 2213 Kings Pass Heath, TX 5
    • 4 beds 3 baths ∙ 3,390 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,390 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rodney Holland
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459727
Last Updated: 10/31/2020
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