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550 Mcdonald Road Heath, TX 75032

4 Beds 5 Baths 3,891 sqft Built 1996

$699,000

List Price

$3,550

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $179.65
  • 4 Days on Market
  • MLS # : 14530785
  • Updated Date : 03/12/2021 at 11:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,891 sqft
  • Baths : 4 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

MULTIPLE OFFERS RECIEVED!!! Please submit highest and best by Monday, 3-15 at 10:00 am. OVER 2 ACRES with a gorgeous POOL and POND VIEW! Completely updated home located in Rockwall ISD. Open floor plan features a gourmet kitchen and breakfast area that overlook the pool and spa. Master suite includes access to the pool and built in cabinets in the HUGE closet. The second downstairs bedroom features custom built cabinets with a desk, which can be used as an office. Two bedrooms and a spacious game room can be found upstairs. Both bedrooms boast ensuite baths! Just off the game room you will find a gorgeous balcony with expansive views! There is also a HUGE floored attic with tons of storage! Must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75032

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k538k

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

Zip Code: 75032

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263246

* 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
 

$629,100$768,900$699,000

PURCHASE PRICE

$3,195$3,905$3,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,550
EXPENSES Loan Payment -$2,428
Property Tax -$1,258
Property Insurance -$252
Property Management Fees -$99
CASH FLOW
-$487

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.

$699,000

PROJECTED PRICE

$3,550

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,550

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,502

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5503$3,575
$3,575
RENT COMPS ANALYSIS
  • 550 Mcdonald Road Heath, TX 2
    • 4 beds 5 baths ∙ 3,891 Sqft ∙ Built 1996 4 beds 5 baths ∙ 3,891 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $0.91
    •  
  • 253 Mockingbird Lane Heath, TX 1
    • 3 beds 4 baths ∙ 3,959 Sqft ∙ Built 2012 3 beds 4 baths ∙ 3,959 Sqft ∙ Built 2012
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.88
    •  
  • 1815 Morrish Lane Heath, TX 3
    • 4 beds 4 baths ∙ 3,883 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,883 Sqft ∙ Built 1999
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,575
    • $0.92
    •  
PROPERTY LISTING DETAILS
Dixie Miller
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530785
Last Updated: 03/12/2021
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