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511 St Marys Street Rockwall, TX 75087

3 Beds 2 Baths 1,571 sqft Built 1990

$245,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $155.95
  • 6 Days on Market
  • MLS # : 14515601
  • Updated Date : 02/13/2021 at 09:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,571 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Ready to move into an immaculate home that is freshly painted, newer appliances, no carpet, wood burning fireplace, large fenced lot with storage building. 3 bedrooms with 2 full baths. Single attached garage has full size washer and dryer connections. Relax on the covered patio opening from the den. Roof replaced 2018. Ceiling fans throughout.Close to shopping, restaurants, and highways. Rockwall ISD schools. Seller does not have a survey.

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
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Herman E. Utley Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 40
8
GreatSchools Rating

Rockwall High School

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

$220,500$269,500$245,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$851
Property Tax -$441
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
$101

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.

$245,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.66%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$19,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,598

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6953$1,6954$1,7005$1,900
$1,900
RENT COMPS ANALYSIS
  • 511 St Marys Street Rockwall, TX 1
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.02
    •  
  • 309 Wildwood Lane Rockwall, TX 2
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1980
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.05
    •  
  • 410 Kenway Street Rockwall, TX 3
    • 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1975
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 905 Village Green Drive Rockwall, TX 4
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1985
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 102 Teakwood Drive Rockwall, TX 5
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1983
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.08
    •  
PROPERTY LISTING DETAILS
Debby Thomas
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515601
Last Updated: 02/13/2021
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