2020 Midlake Ln · Rockwall, TX 75032

$225,000

3 bd · 1.0 ba · 1,464 sqft · SingleFamily public records · 69 Days on market

Built 1986 0.31 ac lot $154/sqft · 34% below area Est $349k · 35% under

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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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 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 unique Rockwall property featuring 4 bedrooms, 2 bathrooms, and 1,504 square feet of living space on a spacious lot. This versatile property offers great potential for homeowners, investors, or business-minded buyers. In addition to its residential use, there is potential for the zoning to be converted to commercial, allowing for a warehouse of approximately 4,000–4,500 square feet. Conveniently located in Rockwall, this property presents a rare opportunity to own a home with future development possibilities. Whether you are looking for a place to live, invest, or expand into commercial use, this property is full of potential. Buyer to verify zoning change and development possibilities with the city. FOUNDATION REPLACED WITH FULL WARRANTY

Key facts

• 0.31 acre lot
• Built 1986
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/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 $220k (2.0% below list).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 69 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask is 13% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $65k; list at $225k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% 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: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (median comp): $348,525
• List price: $225,000
• Delta: -35.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Amanda Ln	0.15mi	2/2.0 (-1)	1,680 (+15%)	14mo	$449,900	$268	48

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-20,692
• Equity at exit: $33,548

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-6,814
• Equity at exit: $19,454

Cash invested: $63,000 (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: $2,204 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$167 /mo · $2,004/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $301

Break-even live

Break-even rent $1,824

Max offer price $225,000

Occupancy floor 81%

Sensitivity live

Price	-10% $428	-5% $364	+0% $301	+5% $237	+10% $173
Rent	-10% $126	-5% $214	+0% $301	+5% $388	+10% $475
Rate	-1.0pp $414	-0.5pp $358	base $301	+0.5pp $242	+1.0pp $183

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
547 Delaware Rd Fate, TX	3.0	2.0	1740	$2,150	$1.24	25d	1	0.76mi
436 Baltimore Ave Fate, TX	3.0	2.0	1762	$2,250	$1.28	44d	1	0.83mi
2056 Riverbirch Ln Rockwall, TX	3.0	2.0	1477	$2,025	$1.37	3d	1	1.02mi
2056 Riverbirch Ln Rockwall, TX	3.0	2.0	1477	$2,075	$1.40	44d	1	1.02mi
2056 Riverbirch Ln Rockwall, TX	3.0	2.0	1477	$2,025	$1.37	12d	1	1.02mi
758 Musket St Fate, TX	4.0	2.0	1862	$2,400	$1.29	44d	1	1.04mi
161 Green Cir Royse City, TX	3.0	1.0	960	$1,495	$1.56	44d	1	1.10mi
3690 Chestnut Trl Rockwall, TX	3.0	2.0	1810	$2,350	$1.30	11d	1	1.20mi
375 W Greenbriar Rd Fate, TX	1.0–2.0	1.0–2.0	961	$2,129	$2.22	0d	41	1.26mi
255 Williamsburg Pkwy Fate, TX	2.0	2.0	1191	$2,350	$1.97	25d	1	1.27mi
255 Williamsburg Pkwy Fate, TX	2.0	2.0	1191	$1,825	$1.53	3d	1	1.27mi
527 Embargo Dr Fate, TX	3.0	2.0	1838	$2,495	$1.36	13d	1	1.32mi
495 Chandler Ct Fate, TX	3.0	2.0	1684	$2,200	$1.31	25d	1	1.32mi
126 Wilmington Dr Fate, TX	3.0	2.0	1799	$2,200	$1.22	25d	1	1.32mi
496 Oak Hills Ln Fate, TX	3.0	2.0	1702	$2,175	$1.28	25d	1	1.40mi

Listing history 24 events

1. 2026-06-01
   days on market $225,000 Active 69 DOM
2. 2026-05-31
   days on market $225,000 Active 68 DOM
3. 2026-05-08
   price $199,000 771-char remark

   Show marketing remark (771 chars)

   Welcome to this unique Rockwall property featuring 4 bedrooms, 2 bathrooms, and 1,504 square feet of living space on a spacious lot. This versatile property offers great potential for homeowners, investors, or business-minded buyers. In addition to its residential use, there is potential for the zoning to be converted to commercial, allowing for a warehouse of approximately 4,000–4,500 square feet. Conveniently located in Rockwall, this property presents a rare opportunity to own a home with future development possibilities. Whether you are looking for a place to live, invest, or expand into commercial use, this property is full of potential. Buyer to verify zoning change and development possibilities with the city. FOUNDATION REPLACED WITH FULL WARRANTY

4. 2026-04-21
   price $207,000 771-char remark

   Show marketing remark (771 chars)

   Welcome to this unique Rockwall property featuring 4 bedrooms, 2 bathrooms, and 1,504 square feet of living space on a spacious lot. This versatile property offers great potential for homeowners, investors, or business-minded buyers. In addition to its residential use, there is potential for the zoning to be converted to commercial, allowing for a warehouse of approximately 4,000–4,500 square feet. Conveniently located in Rockwall, this property presents a rare opportunity to own a home with future development possibilities. Whether you are looking for a place to live, invest, or expand into commercial use, this property is full of potential. Buyer to verify zoning change and development possibilities with the city. FOUNDATION REPLACED WITH FULL WARRANTY

5. 2026-03-23
   listed $199,900 Active 771-char remark

   Show marketing remark (771 chars)

   Welcome to this unique Rockwall property featuring 4 bedrooms, 2 bathrooms, and 1,504 square feet of living space on a spacious lot. This versatile property offers great potential for homeowners, investors, or business-minded buyers. In addition to its residential use, there is potential for the zoning to be converted to commercial, allowing for a warehouse of approximately 4,000–4,500 square feet. Conveniently located in Rockwall, this property presents a rare opportunity to own a home with future development possibilities. Whether you are looking for a place to live, invest, or expand into commercial use, this property is full of potential. Buyer to verify zoning change and development possibilities with the city. FOUNDATION REPLACED WITH FULL WARRANTY

6. 2025-04-25
   soldstatus
7. 2025-01-23
   historical
8. 2025-01-10
   price $193,900
9. 2024-11-05
   price $199,900
10. 2024-10-26
    price $209,900
11. 2024-10-01
    price $215,000
12. 2024-09-17
    listed $220,000 Active
13. 2021-04-22
    soldstatus
14. 2020-09-05
    historical
15. 2020-09-01
    status Active
16. 2020-08-31
    historical Active Contingent
17. 2020-08-29
    price $134,900
18. 2020-08-18
    price $139,900
19. 2020-08-14
    listed $149,900 Active
20. 2020-08-14
    soldstatus
21. 2020-08-13
    soldstatus
22. 2012-06-11
    historical
23. 2012-05-21
    listed $65,000 Active
24. 2001-01-03
    soldstatus $65,000

ⓘ 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: $2,004 · $167/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$2,114/yr (+$176/mo · 105.5%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,450
• − Mortgage interest: −$12,603
• − Property taxes: −$2,004
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,116
• − Management: −$2,116
• − Depreciation: −$6,545
• Taxable loss: −$60
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $3,622/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

• 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

+206.2% since first listed

22 events — show timeline

• 2026-05-08 Price Changed $199,000 NTREIS
• 2026-04-21 Price Changed $207,000 NTREIS
• 2026-03-23 Listed $199,900 NTREIS
• 2025-04-25 Sold (Public Records) — Public Records
• 2025-01-23 Listing Removed — NTREIS
• 2025-01-10 Price Changed $193,900 NTREIS
• 2024-11-05 Price Changed $199,900 NTREIS
• 2024-10-26 Price Changed $209,900 NTREIS
• 2024-10-01 Price Changed $215,000 NTREIS
• 2024-09-17 Listed $220,000 NTREIS
• 2021-04-22 Sold (Public Records) — Public Records
• 2020-09-05 Listing Removed — NTREIS
• 2020-09-01 Relisted — NTREIS
• 2020-08-31 Contingent — NTREIS
• 2020-08-29 Price Changed $134,900 NTREIS
• 2020-08-18 Price Changed $139,900 NTREIS
• 2020-08-14 Sold (Public Records) — Public Records
• 2020-08-14 Listed $149,900 NTREIS
• 2020-08-13 Sold (Public Records) — Public Records
• 2012-06-11 Listing Removed — NTREIS
• 2012-05-21 Listed $65,000 NTREIS
• 2001-01-03 Sold (Public Records) $65,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $2,004 · -7.2% YoY. Source: county tax records.