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616 Moraine Way Heath, TX 75032

4 Beds 4 Baths 4,075 sqft Built 1994

$749,990

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $184.05
  • 6 Days on Market
  • MLS # : 14461851
  • Updated Date : 10/29/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,075 sqft
  • Baths : 3 full , 1 half
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

Grand, one story family home located just a short walk to Lake Ray Hubbard! Located in the exclusive community of the Moraine, this 0.94 acre lot has privacy galore, a diving pool with hot tub and enough rooms for the entire family. Enjoy 4 bds, PLUS two living areas, private gym, study and enormous kitchen. Pool views from almost every room & huge grassy play area. Soaring ceilings, floor to ceiling windows, marble floors, crown molding & just minutes to 1-30 for access to entire Dallas metroplex.

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: The Moraine

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $123k787k

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

Neighborhood: The Moraine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $11264527

* 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
 

$674,991$824,989$749,990

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$2,767
Property Tax -$1,342
Property Insurance -$263
HOA -$54
Property Management Fees -$99
CASH FLOW
-$1,065

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.

$749,990

PROJECTED PRICE

$3,460

PROJECTED RENT

0.46%

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-$20k-$15k-$10k-$5.0k$0.0

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$204,497

INVESTMENT

$204,497

Down Payment
$187,498
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,498
Loan Amount $562,493
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$70

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,460

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,260

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,4603$3,600
$3,600
RENT COMPS ANALYSIS
  • 616 Moraine Way Heath, TX 2
    • 4 beds 4 baths ∙ 4,075 Sqft ∙ Built 1994 4 beds 4 baths ∙ 4,075 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $0.85
    •  
  • 201 Stanford Court Heath, TX 1
    • 4 beds 4 baths ∙ 3,990 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,990 Sqft ∙ Built 2001
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.71
    •  
  • 856 Elgin Court Rockwall, TX 3
    • 4 beds 5 baths ∙ 4,036 Sqft ∙ Built 2007 4 beds 5 baths ∙ 4,036 Sqft ∙ Built 2007
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Becky Oliver Conley
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461851
Last Updated: 10/29/2020
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