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756 Windsong Lane Rockwall, TX 75032

4 Beds 5 Baths 3,899 sqft Built 2007

INVESTimate

$525,000

List Price

$3,440

$3,190 - $3,690

Rent Est.

$553,980  ( +5.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $134.65
  • 4 Days on Market
  • MLS # : 14417795
  • Updated Date : 08/23/2020 at 22:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,899 sqft
  • Baths : 3 full , 2 half
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Fabulous custom home w-grand entry offers a study w-French doors and built-in shelves, a spacious dining room, private guest room w- en-suite bath, living room w- wood-burning fireplace, gourmet kitchen w-breakfast area, a master suite that will wow you and a cozy hearth room all on the first level. Upstairs is a game room, media room w-wet bar and projector, two bedrooms w- Jack-n-Jill bath, an extra half bath. Outdoor living center w-fireplace, grill, & fridge on a large covered patio. Home backs up to greenbelt with pond. Other: large laundry w-sink, hand-scraped wood floors, dbl convection ovens, gas cooktop huge pantry, butler's pantry, mud room, laundry shoot...too much to list!

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: Rainbow Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Rainbow Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263499

* 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
Dorothy Smith Pullen Elementary School Primary Regular 610 39 7
Cain Middle School Middle Regular 941 50 7
Rockwall-heath High School High Regular 2,200 119 8

Dorothy Smith Pullen Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 39
7
GreatSchools Rating

Cain Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 50
7
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$1,937
Property Tax -$945
Property Insurance -$252
HOA -$28
Property Management Fees -$99
CASH FLOW
$178

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.

$525,000

PROJECTED PRICE

$3,440

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.52%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$46,436

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $3,314

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$3,195
1$3,1952$3,4403$3,600
$3,600
RENT COMPS ANALYSIS
  • 756 Windsong Lane Rockwall, TX 2
    • 4 beds 5 baths ∙ 3,899 Sqft ∙ Built 2007 4 beds 5 baths ∙ 3,899 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $0.88
    •  
  • 837 Elgin Court Rockwall, TX 1
    • 4 beds 3 baths ∙ 3,949 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,949 Sqft ∙ Built 2006
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $0.81
    •  
  • 856 Elgin Court Rockwall, TX 3
    • 4 beds 5 baths ∙ 4,036 Sqft ∙ Built 2007 4 beds 5 baths ∙ 4,036 Sqft ∙ Built 2007
    property image
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Patty Turner
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417795
Last Updated: 08/23/2020
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