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802 Miramar Drive Rockwall, TX 75087

4 Beds 4 Baths 2,997 sqft Built 2010

$399,900

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $133.43
  • 2 Days on Market
  • MLS # : 14532394
  • Updated Date : 03/12/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,997 sqft
  • Baths : 3 full , 1 half
Listing Agent

Regal, Realtors

Listing Agent's Description

Beautiful home in award winning Rockwall ISD, close to the new Hamm Elementary! Great location, conveniently located only two miles from The Square, which hosts a variety of options for entertainment, shopping, and dining. Just under 3,000 sqft, there are 4 bedrooms, 3.5 baths, upstairs children's game room and an open floor plan downstairs that is great for entertaining! Interior features include; bamboo flooring, stainless steel appliances, window treatments and granite counter tops. Also, with this home, you are getting a wonderful family-friendly community with a pool that the entire family will enjoy. Don't miss your chance, this won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Stone Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k436k

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

Neighborhood: Stone Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262998

* 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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,389
Property Tax -$720
Property Insurance -$200
HOA -$108
Property Management Fees -$99
CASH FLOW
$143

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.

$399,900

PROJECTED PRICE

$2,660

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$29,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,652

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,6504$2,6605$2,750
$2,750
RENT COMPS ANALYSIS
  • 802 Miramar Drive Rockwall, TX 4
    • 4 beds 4 baths ∙ 2,997 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,997 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.89
    •  
  • 1961 Random Oaks Drive Rockwall, TX 1
    • 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 1996
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.90
    •  
  • 2325 Shoal Creek Lane Rockwall, TX 2
    • 4 beds 3 baths ∙ 2,862 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,862 Sqft ∙ Built 2006
    property image
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.91
    •  
  • 1905 Creekside Drive Rockwall, TX 3
    • 5 beds 4 baths ∙ 3,054 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,054 Sqft ∙ Built 2000
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.87
    •  
  • 403 Montrose Drive Rockwall, TX 5
    • 3 beds 3 baths ∙ 3,196 Sqft ∙ Built 2019 3 beds 3 baths ∙ 3,196 Sqft ∙ Built 2019
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.86
    •  
PROPERTY LISTING DETAILS
Zach Butler
Regal, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532394
Last Updated: 03/12/2021
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