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985 Lazy Brooke Drive Rockwall, TX 75087

4 Beds 4 Baths 3,599 sqft Built 2017

$549,900

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $152.79
  • 3 Days on Market
  • MLS # : 14522375
  • Updated Date : 02/26/2021 at 15:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,599 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors-coit

Listing Agent's Description

Custom One Story Paul Taylor home built in 2017 (3583 sq. Ft). Located in the exclusive Breezy Hill subdivision on an Oversized Lot. Drive up is fantastic, with Gabels and beautiful Brick work. 4 bd,3.1 bath, 3 car. Open and spacious with Rich Hardwood floors. Oversized Family room Features 3 Massive Boxed Beams and Vaulted ceilings. Gorgeous Stone fireplace. Open Kitchen features SS appliances and a large island facing the family room. Master bath has oversized shower with 2 shower heads and granite counter tops. Entertaining Outdoor Living Center boast an arched cover and fireplace. 3 Car Garage has epoxy floors. Energy Star Certified 16 seer HVAC systems. Enjoy the Community Park and Lake.

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

Zip Code: 75087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$1,910
Property Tax -$990
Property Insurance -$235
HOA -$58
Property Management Fees -$99
CASH FLOW
-$83

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.

$549,900

PROJECTED PRICE

$3,210

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$19,030

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,960

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,785
1$2,7852$2,9003$2,9004$2,9505$3,210
$3,210
RENT COMPS ANALYSIS
  • 985 Lazy Brooke Drive Rockwall, TX 5
    • 4 beds 4 baths ∙ 3,599 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,599 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $0.89
    •  
  • 305 Featherstone Drive Rockwall, TX 1
    • 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 2
    • 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 3
    • 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
    •  
  • 780 Bordeaux Drive Rockwall, TX 4
    • 4 beds 5 baths ∙ 3,728 Sqft ∙ Built 2015 4 beds 5 baths ∙ 3,728 Sqft ∙ Built 2015
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.79
    •  
PROPERTY LISTING DETAILS
Bruce Rayburn
Ebby Halliday, Realtors-coit
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522375
Last Updated: 02/26/2021
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