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990 Potter Avenue Rockwall, TX 75087

4 Beds 4 Baths 3,409 sqft Built 2005

$380,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $111.47
  • 2 Days on Market
  • MLS # : 14507683
  • Updated Date : 01/30/2021 at 21:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,409 sqft
  • Baths : 3 full , 1 half
Listing Agent

Regal, Realtors

Listing Agent's Description

Look no further! This updated spacious home located is located in The Shores subdivision. Four bedrooms and 3 living areas give you oodles of options for family and friends. Updates include plantation shutters, master bathroom tub and shower, newer roof and fence, tankless water heaters and wood floors. The Shores has a community pool, tennis and work out facilities to keep you and your family entertained. ***MULTIPLE OFFERS RECEIVED. DEADLINE FOR ALL OFFERS IS SUNDAY, JANUARY 31 AT 6:00 PM***

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
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
 

$342,000$418,000$380,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,320
Property Tax -$684
Property Insurance -$224
HOA -$52
Property Management Fees -$99
CASH FLOW
$231

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.

$380,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.69%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$36,489

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,676

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,6104$2,9005$2,900
$2,900
RENT COMPS ANALYSIS
  • 990 Potter Avenue Rockwall, TX 3
    • 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.77
    •  
  • 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
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.71
    •  
  • 2055 Club Lake Circle Rockwall, TX 2
    • 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2001
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 775 Bordeaux Drive Rockwall, TX 4
    • 4 beds 4 baths ∙ 3,496 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,496 Sqft ∙ Built 2017
    property image
    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
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.83
    •  
PROPERTY LISTING DETAILS
Stacy Rose
Regal, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507683
Last Updated: 01/30/2021
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