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705 Peters Colony Street Rockwall, TX 75087

3 Beds 2 Baths 2,028 sqft Built 2020

$319,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $157.74
  • 5 Days on Market
  • MLS # : 14486692
  • Updated Date : 12/16/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,028 sqft
  • Baths : 2 full
Listing Agent

Texas Urban Living Realty

Listing Agent's Description

Enjoy this newly built Modern Farmhouse designed custom home in a well established neighborhood. Features a great open floor plan with plenty of natural lighting, a built in mud room, and decorative lighting throughout. Has various upgrades throughout, built in seating bench in the dining area and unique 3 step down entry. Is conveniently located near I 30 and less than 5 miles from Lake Ray Hubbard. Highly desirable schools and very close restaurants and retail. Great size yard and amazing patio deck to enjoy the sunset daily. A must see!

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

Zip Code: 75087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Howard Dobbs Elementary School Primary Regular 624 43 7
Herman E. Utley Middle School Middle Regular 672 40 8
Rockwall High School High Regular 2,323 134 8

Howard Dobbs Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 43
7
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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,180
Property Tax -$576
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
$30

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.

$319,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,774

INVESTMENT

$86,774

Down Payment
$79,975
Rehab Estimate
$2,000
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$21,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,058

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$2,0303$2,0754$2,2005$2,225
$2,225
RENT COMPS ANALYSIS
  • 705 Peters Colony Street Rockwall, TX 2
    • 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.00
    •  
  • 208 Jacob Crossing Rockwall, TX 1
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2000
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.97
    •  
  • 576 Kara Drive Fate, TX 3
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2017
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.03
    •  
  • 708 Davy Crockett Street Rockwall, TX 4
    • 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 2015
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
  • 616 Cayden Court Fate, TX 5
    • 4 beds 2 baths ∙ 2,303 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,303 Sqft ∙ Built 2015
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jessica Palucho
Texas Urban Living Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486692
Last Updated: 12/16/2020
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