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644 Turtle Cove Boulevard Rockwall, TX 75087

3 Beds 2 Baths 2,049 sqft Built 1996

$327,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $159.59
  • 7 Days on Market
  • MLS # : 14483530
  • Updated Date : 12/14/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,049 sqft
  • Baths : 2 full
Listing Agent

Mary Franks

Listing Agent's Description

Highly sought after gated community in Rockwall. Must see this stunning former model with tons of updates, neutral pallet, tall ceilings, wood and oversized tile flooring. Beautiful open kitchen, ample cabinets, granite countertops, beautiful pendant lighting and more. Large bright master suite with sitting area, garden tub, separate frameless shower. Bedrooms have walk in closets, laundry located off of master. Flex space can be used as office or media, two patios, wood burning fireplace. Community amenities: pool, tennis courts, and club house, front lawn maintenance. Close shopping & dining. Easy access to I-30 and George Bush. Buyer to verify HOA, school, sizes information. Broker is related to seller.

SEE MORE

MARKET HIGHLIGHTS

  • # 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: Turtle Cove

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k343k

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

Neighborhood: Turtle Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262234

* 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
Virginia Reinhardt Elementary School Primary Regular 581 34 8
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Virginia Reinhardt Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 34
8
GreatSchools Rating

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
 

$294,300$359,700$327,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,206
Property Tax -$589
Property Insurance -$146
HOA -$92
Property Management Fees -$99
CASH FLOW
-$201

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.

$327,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.5%
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$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

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$92,405

INVESTMENT

$92,405

Down Payment
$81,750
Rehab Estimate
$5,750
Closing Costs
$4,905

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,206

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,750
Loan Amount $245,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,495

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,941

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9303$1,9494$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 644 Turtle Cove Boulevard Rockwall, TX 2
    • 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.94
    •  
  • 3323 Augusta Boulevard Rockwall, TX 1
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1984
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 750 Turtle Cove Boulevard Rockwall, TX 3
    • 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1999
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $0.96
    •  
  • 629 Harbor Cove Drive Rockwall, TX 4
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1999
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 3005 Preston Court Rockwall, TX 5
    • 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 2014
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
PROPERTY LISTING DETAILS
Mary Franks
Mary Franks
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483530
Last Updated: 12/14/2020
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