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525 Granite Fields Drive Rockwall, TX 75087

3 Beds 3 Baths 2,754 sqft Built 2020

$426,900

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $155.01
  • 8 Days on Market
  • MLS # : 14467916
  • Updated Date : 11/09/2020 at 09:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,754 sqft
  • Baths : 3 full
Listing Agent

Pacesetter Homes

Listing Agent's Description

MLS# 14467916 - Built by Pacesetter Homes - February completion! ~ Beautiful New One Story Home in the Heart of Stone Creek. This open floor plan has a large family room open to the gourmet kitchen with huge island and large walk in pantry with tons of windows and natural light. Master retreat has a private sitting area & walk in shower with separate tub. The other 2 bedrooms will each have their own full bath. This home is complete with a private study with glass doors and a covered back patio. Enjoy the community pool, walking trails, playground and fishing ponds Stone Creek has to offer. This home is located just down the street from the new Elementary school. Schedule an appointment now!!!

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: Stone Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k436k

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

Neighborhood: Stone Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262998

* 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
 

$384,210$469,590$426,900

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,575
Property Tax -$769
Property Insurance -$186
HOA -$54
Property Management Fees -$99
CASH FLOW
-$213

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$426,900

PROJECTED PRICE

$2,470

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,129

INVESTMENT

$115,129

Down Payment
$106,725
Rehab Estimate
$2,000
Closing Costs
$6,404

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,575

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,725
Loan Amount $320,175
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,499

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,4003$2,4704$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 525 Granite Fields Drive Rockwall, TX 3
    • 3 beds 3 baths ∙ 2,754 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,754 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.90
    •  
  • 2010 Heather Glen Drive Rockwall, TX 1
    • 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 2006
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.85
    •  
  • 1360 Grass Valley Drive Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,668 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,668 Sqft ∙ Built 2003
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
  • 802 Miramar Drive Rockwall, TX 4
    • 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
    •  
  • 109 Crestbrook Drive Rockwall, TX 5
    • 3 beds 4 baths ∙ 2,579 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,579 Sqft ∙ Built 2013
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Dennis Ciani
Pacesetter Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467916
Last Updated: 11/09/2020
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