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955 Mont Cascades Drive Rockwall, TX 75087

4 Beds 4 Baths 3,400 sqft Built 2005

$415,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $122.06
  • 4 Days on Market
  • MLS # : 14498204
  • Updated Date : 01/14/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,400 sqft
  • Baths : 3 full , 1 half
Listing Agent

Allie Beth Allman & Assoc.

Listing Agent's Description

Grand entry with 20 foot ceilings. Open kitchen to living room with breakfast bar, granite, stainless steel appliances, gas cooktop, wood cabinets. Bamboo wood floors and porcelain tile. Updated light fixtures. Updated master bath with granite counters, modern glass bowl vanities, walk in shower with frameless glass shower door, new tile, pebble floor, moen shower head. Large game room upstairs. Media Room with 101 inch projector screen and 3D Epson Projector, surround sound, two levels. Can Lighting. Outdoor covered pergola. Outdoor kitchen includes custom grill and smoker, refrigerator, breakfast bar. Radiant Barrier. Roof 3 years. Attic with storage. Shores Park, Rockwall Golf and Athletic club blocks away.

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: Shores North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k359k

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

Neighborhood: Shores North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262421

* 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
Nebbie Williams Elementary School Primary Regular 577 37 9
Nebbie Williams Elementary School Middle Regular 577 37 9
Rockwall High School High Regular 2,323 134 8

Nebbie Williams Elementary School

  • Education Level: Primary
  • # of students: 577
  • # of teachers: 37
9
GreatSchools Rating

Nebbie Williams Elementary School

  • Education Level: Middle
  • # of students: 577
  • # of teachers: 37
9
GreatSchools Rating

Rockwall High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,441
Property Tax -$747
Property Insurance -$224
HOA -$54
Property Management Fees -$99
CASH FLOW
$155

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.

$415,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$31,362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,729

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,7203$2,7854$2,9005$2,900
$2,900
RENT COMPS ANALYSIS
  • 955 Mont Cascades Drive Rockwall, TX 2
    • 4 beds 4 baths ∙ 3,400 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,400 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $0.80
    •  
  • 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 3
    • 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 4
    • 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
    •  
  • 2221 Hyer Drive Rockwall, TX 5
    • 3 beds 4 baths ∙ 3,487 Sqft ∙ Built 2013 3 beds 4 baths ∙ 3,487 Sqft ∙ Built 2013
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.83
    •  
PROPERTY LISTING DETAILS
Michael Anderson
Allie Beth Allman & Assoc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498204
Last Updated: 01/14/2021
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