482 Perch Rd · Rockwall, TX 75032

$205,000

2 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 96 Days on market

Built 2000 5,009 sqft lot $171/sqft · 16% below area Est $243k · 16% under ↓ 13% since listing

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.2/30.0
• ARV discount +14.6/15.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this cozy, very well-maintained home featuring 3 bedrooms and 1 bathroom, located near shopping centers and the freeway. The bathroom has been remodeled, the roof was recently replaced, the water heater was recently replaced, and the home has a new air conditioner.

Key facts

• Remodeled bathroom
• New air conditioner
• Near freeway

Tags

• REMODELED BATHROOM
• RECENTLY REPLACED ROOF
• RECENTLY REPLACED WATER HEATER
• NEW AIR CONDITIONER
• NEAR SHOPPING CENTERS
• NEAR FREEWAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (1.7% below list).
• Recommended offer: $187k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 2.9% in Rockwall — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#86 in TX, #3,043 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F.
• Rockwall ISD (suburban): math 54% / reading 54% proficiency, ranked #83 of 826 in TX (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.5%/yr); 966 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,810 units permitted in Rockwall County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($136k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Rockwall County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 8.5

CMA / ARV

• ARV (median comp): $243,317
• List price: $205,000
• Delta: -15.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 Lakeside Dr	0.23mi	3/1.0 (+1)	1,188 (-1%)	3mo	$194,900	$164	80
630 Trout St	0.08mi	3/2.0 (+1)	1,288 (+7%)	12mo	$289,000	$224	66
101 Brockway Dr	0.47mi	3/2.0 (+1)	1,183 (-1%)	4mo	$275,000	$232	63
791 Lakeside Dr	0.12mi	3/2.0 (+1)	1,286 (+7%)	15mo	$280,000	$218	61
148 Pinion Ln	0.26mi	3/2.0 (+1)	1,261 (+5%)	14mo	$285,000	$226	58
226 Rockwall Pkwy	0.59mi	3/2.0 (+1)	1,183 (-1%)	7mo	$225,000	$190	55
2937 Goldenwave	0.57mi	3/2.0 (+1)	1,263 (+5%)	1mo	$315,795	$250	55
207 Overbrook Ct	0.52mi	3/2.0 (+1)	1,272 (+6%)	5mo	$199,000	$156	53
230 Rockwall Pkwy	0.57mi	3/2.0 (+1)	1,251 (+4%)	11mo	$230,000	$184	48
2977 Firewheel Dr	0.56mi	3/2.0 (+1)	1,252 (+4%)	12mo	$279,900	$224	48
201 Parkway Ct	0.49mi	3/2.0 (+1)	1,312 (+9%)	7mo	$275,000	$210	47
3817 Sycamore Ln	0.32mi	3/2.0 (+1)	1,370 (+14%)	14mo	$318,000	$232	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.49×
• Total profit: $-29,375
• Equity at exit: $30,566

10-year hold

• IRR: -8.6%
• Equity multiple: 0.50×
• Total profit: $-28,656
• Equity at exit: $17,725

Cash invested: $57,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75032

• Home prices YoY: -22.9%
• Rents YoY: 1.5%
• Active inventory: 966
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,016 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$325 /mo · $3,898/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $107

Break-even live

Break-even rent $1,880

Max offer price $205,000

Occupancy floor 90%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
552 Trout St Rockwall, TX	3.0	2.0	1415	$2,195	$1.55	7d	1	0.03mi
552 Trout St Rockwall, TX	3.0	2.0	1415	$2,195	$1.55	18d	1	0.03mi
112 Walnut Ln Rockwall, TX	3.0	2.0	1491	$1,895	$1.27	17d	1	0.20mi
152 Pinion Ln Rockwall, TX	3.0	2.0	1349	$1,950	$1.45	7d	1	0.28mi
185 Trout St Rockwall, TX	3.0	2.0	1229	$1,619	$1.32	17d	1	0.33mi
133 Brockway Dr Rockwall, TX	3.0	2.0	1358	$1,799	$1.32	44d	1	0.37mi
140 Trout St Rockwall, TX	3.0	2.0	1480	$1,950	$1.32	22d	1	0.38mi
109 Brockway Dr Rockwall, TX	3.0	2.0	1286	$1,950	$1.52	24d	1	0.42mi
128 Overbrook Dr Rockwall, TX	3.0	2.0	1368	$3,000	$2.19	3d	1	0.44mi
149 Brockway Dr Rockwall, TX	3.0	2.0	1358	$2,100	$1.55	44d	1	0.45mi
151 Brockway Dr Rockwall, TX	3.0	2.0	1274	$1,949	$1.53	44d	1	0.46mi
202 Mapleridge Dr Rockwall, TX	3.0	2.0	1156	$1,965	$1.70	5d	1	0.48mi
336 Cresthaven Dr Rockwall, TX	3.0	2.0	1233	$1,950	$1.58	5d	1	0.60mi
2825 Beverly Dr Rockwall, TX	3.0	2.0	1379	$1,985	$1.44	44d	1	0.67mi
2500 Summer Lee Dr Rockwall, TX	2.0	1.0–2.5	902	$2,330	$2.58	2d	20	1.04mi
2400 Summer Lee Dr Rockwall, TX	2.0	1.0–2.0	918	$2,388	$2.60	1d	28	1.18mi
1452 Hickory Creek Ln Rockwall, TX	3.0	2.0	1498	$1,995	$1.33	24d	1	1.31mi
1476 Hickory Creek Ln Rockwall, TX	3.0	2.0	1498	$1,855	$1.24	20d	1	1.36mi
923 W Yellowjacket Ln Rockwall, TX	1.0–3.0	1.0–2.0	970	$1,674	$1.73	2d	20	1.36mi
1031 Signal Ridge Pl #1031 Rockwall, TX	1.0	1.0	827	$1,285	$1.55	7d	1	1.43mi
1912 Signal Ridge Pl Rockwall, TX	2.0	2.0	1222	$2,200	$1.80	44d	1	1.43mi
2600 Lakefront Trl Rockwall, TX	2.0	1.0–2.0	952	$3,539	$3.72	2d	23	1.45mi
295 I-30 Rockwall, TX	1.0	1.0	718	$873	$1.22	44d	1	1.49mi
1121 Signal Ridge Pl Rockwall, TX	1.0	1.0	864	$1,350	$1.56	44d	1	1.50mi

Listing history 21 events

1. 2026-06-18
   days on market $205,000 Active 96 DOM
2. 2026-06-17
   days on market $205,000 Active 95 DOM
3. 2026-06-16
   days on market $205,000 Active 94 DOM
4. 2026-06-15
   days on market $205,000 Active 93 DOM
5. 2026-06-13
   days on market $205,000 Active 91 DOM
6. 2026-06-13
   days on market $205,000 Active 90 DOM
7. 2026-06-09
   days on market $205,000 Active 87 DOM
8. 2026-06-08
   days on market $205,000 Active 86 DOM
9. 2026-06-07
   days on market $205,000 Active 85 DOM
10. 2026-06-04
    days on market $205,000 Active 82 DOM
11. 2026-06-03
    days on market $205,000 Active 81 DOM
12. 2026-06-02
    days on market $205,000 Active 80 DOM
13. 2026-06-01
    days on market $205,000 Active 79 DOM
14. 2026-05-31
    days on market $205,000 Active 78 DOM
15. 2026-05-06
    price $205,000 276-char remark

    Show marketing remark (276 chars)

    Welcome to this cozy, very well-maintained home featuring 3 bedrooms and 1 bathroom, located near shopping centers and the freeway. The bathroom has been remodeled, the roof was recently replaced, the water heater was recently replaced, and the home has a new air conditioner.

16. 2026-04-16
    price $218,000 276-char remark

    Show marketing remark (276 chars)

    Welcome to this cozy, very well-maintained home featuring 3 bedrooms and 1 bathroom, located near shopping centers and the freeway. The bathroom has been remodeled, the roof was recently replaced, the water heater was recently replaced, and the home has a new air conditioner.

17. 2026-03-14
    listed $235,900 Active 276-char remark

    Show marketing remark (276 chars)

    Welcome to this cozy, very well-maintained home featuring 3 bedrooms and 1 bathroom, located near shopping centers and the freeway. The bathroom has been remodeled, the roof was recently replaced, the water heater was recently replaced, and the home has a new air conditioner.

18. 2021-11-08
    soldstatus
19. 2020-07-28
    soldstatus
20. 2018-05-01
    soldstatus
21. 1998-05-18
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,898 · $325/mo
• Projected year-2 tax: $3,898 · $325/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,190
• − Mortgage interest: −$11,483
• − Property taxes: −$3,898
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,935
• − Management: −$1,935
• − Depreciation: −$5,964
• Taxable loss: −$2,050
• Est. tax savings @ 24.0%: +$492
• After-tax cash flow: $1,779/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rockwall ISD
• NCES district ID: 4837650
• Math proficiency: 54% ▼ -13.00%
• Reading proficiency: 54% ▼ -8.00%
• Median HH income: $88,800
• Composite: 49.82/100
• National rank: #1952
• State rank: #83 of 826 in TX

Livability — Rockwall

• Score: 77/100
• State rank: #86
• US rank: #3043

Category grades

Amenities F Commute F Cost of living B Crime A- Employment A+ Housing A+ Health & safety C+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockwall, TX
• County: Rockwall County · 132,930 people
• City population: 84,191
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 39,865
• Household income: $135,742
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 636.0

Population outlook (Rockwall County) Hauer SSP2

• Today (2025): 118,396 people
• By 2030: 132,209 · +11.7%
• By 2040: 159,538 · +34.7%
• By 2050: 185,299 · +56.5%
• By 2075: 243,489 · +105.7%
• By 2100: 277,814 · +134.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 17% Two or more races 9% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Rockwall

• 2024 margin: Solid R (+40.9) · D 29.1% · R 70.0%
• 2008→2024 swing: +5.3pp toward D · 2008: -46.2pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+37.7 2016: R+47.5 2012: R+53.3 2008: R+46.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.97%
• Current HPI: 209.0229
• Rent YoY: ▲ 1.47%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-13.1% since first listed

7 events — show timeline

• 2026-05-06 Price Changed $205,000 NTREIS
• 2026-04-16 Price Changed $218,000 NTREIS
• 2026-03-14 Listed $235,900 NTREIS
• 2021-11-08 Sold (Public Records) — Public Records
• 2020-07-28 Sold (Public Records) — Public Records
• 2018-05-01 Sold (Public Records) — Public Records
• 1998-05-18 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $3,898 · -2.0% YoY. Source: county tax records.