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808 Mountcastle Drive Rockwall, TX 75087

5 Beds 4 Baths 3,296 sqft Built 2015

$524,900

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $159.25
  • 3 Days on Market
  • MLS # : 14535453
  • Updated Date : 03/26/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,296 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

STUNNING 5 BED 4 BATH home! Hand-scraped hardwood floors in the main rooms of first floor add to the welcoming entry of this IMMACULATE BEAUTY. Kitchen boasts a large island with breakfast bar, double ovens, stunning quartz countertops, designer backsplash, updated lighting & WIP. Wonderful Spacious Master Retreat and guest room down - 3 bedrooms, Game & Media Rooms & 2 baths up. AMAZING outdoor oasis completed in 2017 includes POOL, SPA, FIREPIT, plus EXTENDED patio spaces-all to provide plenty of room for entertaining. 2 Tankless water heaters. Stone Creek amenities include pool, playground, picnic pavilion, pond & walking paths thru-out. Prime location within blocks to NEW Hamm Elem & Middle School.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$472,410$577,390$524,900

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$1,823
Property Tax -$945
Property Insurance -$218
HOA -$54
Property Management Fees -$99
CASH FLOW
-$109

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.

$524,900

PROJECTED PRICE

$3,030

PROJECTED RENT

0.58%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,823

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$16,333

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,694

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,7853$2,9004$3,0005$3,030
$3,030
RENT COMPS ANALYSIS
  • 808 Mountcastle Drive Rockwall, TX 5
    • 5 beds 4 baths ∙ 3,296 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,296 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $0.92
    •  
  • 1025 Mont Cascades Drive Rockwall, TX 1
    • 5 beds 4 baths ∙ 3,323 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,323 Sqft ∙ Built 2004
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.71
    •  
  • 305 Featherstone Drive Rockwall, TX 2
    • 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2018
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,785
    • $0.84
    •  
  • 775 Bordeaux Drive Rockwall, TX 3
    • 4 beds 4 baths ∙ 3,496 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,496 Sqft ∙ Built 2017
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.83
    •  
  • 3906 Durham Drive Rockwall, TX 4
    • 4 beds 3 baths ∙ 3,388 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,388 Sqft ∙ Built 2012
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jessica Hargis
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535453
Last Updated: 03/26/2021
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