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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $90.01
- 5 Days on Market
- MLS # : 14495086
- Updated Date : 01/06/2021 at 14:03
CONSTRUCTION
- Beds : 6
- Floor Size : 4,105 sqft
- Baths : 2 full , 1 half
Listing Agent
Rad Realty Group
Listing Agent's Description
BEAUTIFULLY UPDATED HUGE 6 OVERSIZED BEDROOM HOME ON ALMOST A QUARTER ACRE. Everything is new so you don't have to worry, starting with roof, 2 new HVAC systems, premium laminate hardwood on all the first level, carpets, fresh paint, led lights and much more... Kitchen with new quartz and breakfast bar. Master down with updated bath. The second floor has a huge game room along with 5 bedrooms or office space. 2 separate garage doors with new openers. Enjoy comfortable gathering place in two large livings. Extend your living area outdoor and relax with large patio surrounded by a fenced yard. Prized schools and easy access to the highway, shopping and entertainment make this one a homerun.
SEE MORE
- # 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)
- . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
PRICE & RENT TRENDS
Neighborhood: Lynden Park Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lynden Park Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,590 |
| EXPENSES | Loan Payment | -$1,283 |
| Property Tax | -$665 | |
| Property Insurance | -$264 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$278
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$369,500
PROJECTED PRICE
$2,590
PROJECTED RENT
0.70%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.39% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$103,668
LOAN DETAILS
$1,283
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $92,375 |
| Loan Amount | $277,125 |
8.33
YEARS SAVED
$41,021
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,590
LIST RENT -
$0.63
LIST RENT PER SQFT
-
$2,217
COMP ESTIMATED VALUE -
$0.54
COMP AVG. RENT PER SQFT
Comps Range
-
580 Norwood Drive Rockwall, TX 2
- 6 beds 3 baths ∙ 4,105 Sqft ∙ Built 2001 6 beds 3 baths ∙ 4,105 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $2,590
- $0.63
-
130 Southampton Drive Rockwall, TX 1
- 5 beds 3 baths ∙ 3,912 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,912 Sqft ∙ Built 1999
LEASED 12/12/19- Rent
- Rent Per SQFT
- $2,100
- $0.54
PROPERTY LISTING DETAILS
Rad Realty Group
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14495086
Last Updated: 01/06/2021
