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980 Potter Avenue Rockwall, TX 75087

4 Beds 2 Baths 2,346 sqft Built 2006

$319,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $135.98
  • 4 Days on Market
  • MLS # : 14456909
  • Updated Date : 10/31/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,346 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Simply Gorgeous!! Hard to find Executive One Story Home in The Shores Country Club. With 4 Bedrooms, 2 Baths and Formals this Home is Special. From the Front Door to the Two Living Areas and Two Dining Areas this lovely home is Pristine and Inviting. Enjoy Mature Landscaping,Sprinkler System,Covered Patio and Fenced Yard. Please note the Upgraded Lighting, Granite Counters and No Carpet!! Split Bedroom Arrangement and Storage Galore. The Spacious Kitchen boasts Room for Family and Friends to Gather. Summertime and the living is Easy as you Enjoy the Community Pool, Tennis Courts, Golf, Fitness Facility and Restaurant...Wintertime as well. Conveniently Located to Downtown Rockwall, Shopping and Entertainment.

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: 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
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,177
Property Tax -$574
Property Insurance -$163
HOA -$54
Property Management Fees -$99
CASH FLOW
$34

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.

$319,000

PROJECTED PRICE

$2,100

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$20,695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,123

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9753$2,1004$2,1005$2,195
$2,195
RENT COMPS ANALYSIS
  • 980 Potter Avenue Rockwall, TX 4
    • 4 beds 2 baths ∙ 2,346 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,346 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 2021 Whitney Bay Drive Rockwall, TX 1
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2002
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 486 Presidio Drive Rockwall, TX 2
    • 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 2007
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.89
    •  
  • 2055 Berkdale Lane Rockwall, TX 3
    • 4 beds 2 baths ∙ 2,326 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,326 Sqft ∙ Built 2006
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 1545 Avonlea Drive Rockwall, TX 5
    • 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2003
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.93
    •  
PROPERTY LISTING DETAILS
Darlene Reed
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14456909
Last Updated: 10/31/2020
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