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708 Forest Trace
About This Property
Inside, fresh paint, upgraded flooring, and a spacious living room with a charming brick wood-burning fireplace set a warm tone. A versatile front room works perfectly as a formal dining room, private study, or additional living area. The sunroom adds approximately 270 sq ft of bonus space-not reflected in tax records-ideal for a game room, home office, or second lounge.
Peaceful lake views are enjoyed from the kitchen, living room, primary suite, and backyard. The updated patio offers a shaded retreat to relax through the Texas heat while taking in breathtaking sunset views over Lake Ray Hubbard.
The luxurious primary suite serves as a spacious retreat with an oversized bedroom, sitting area, granite countertops, and a walk-in shower. The spacious second en-suite-in-law suite features an updated private bathroom-perfect for multigenerational living or long-term guests. Two additional bedrooms share an updated Jack-and-Jill bathroom, keeping comfort and functionality throughout.
Combining high-end updates, flexible living spaces, scenic lake views, and an unbeatable location, this move-in-ready home is a rare opportunity to enjoy the best of Rockwall living. Recent upgrades include HVAC and furnace replaced in 2025 and water heater replaced in 2021.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 13, 2026 | Sold | ||
| Sold | |||
| Jul 21, 2026 | In contract | - | |
| In contract | |||
| Jul 10, 2026 | Relisted | $439,000 | |
| Relisted | |||
| Jul 3, 2026 | In contract | - | |
| In contract | |||
| Jun 2, 2026 | Listed by Keller Williams Rockwall | $439,000 | |
| Listed by Keller Williams Rockwall | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017