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10402 Wood Drive Rowlett, TX 75089

4 Beds 2 Baths 2,080 sqft Built 2004

$275,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $132.21
  • 2 Days on Market
  • MLS # : 14493753
  • Updated Date : 01/09/2021 at 13:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,080 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Beautiful Home located on a quiet street in Rowlett's highly desired Waterview Community. Freshly painted, open floor plan with study that could be 4th bedroom, Large Covered Patio and large backyard. Just walking distance to Liberty Grove Elementary. The Waterview Neighborhood offers residents tennis courts, an 18-hole Golf Course, a large water park featuring two giant water slides, fishing ponds, parks and walking trails.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Waterview

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Waterview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262398

* 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
Hillside Academy For Excel Primary Magnet 463 29 10
Classical Center At Brandenburg Middle School Middle Magnet 1,158 64 8
Sachse High School High Regular 2,859 159 7

Hillside Academy For Excel

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 29
10
GreatSchools Rating

Classical Center At Brandenburg Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 64
8
GreatSchools Rating

Sachse High School

  • Education Level: High
  • # of students: 2,859
  • # of teachers: 159
7
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$955
Property Tax -$659
Property Insurance -$147
HOA -$56
Property Management Fees -$99
CASH FLOW
$64

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.

$275,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,226

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8954$1,9805$2,195
$2,195
RENT COMPS ANALYSIS
  • 10402 Wood Drive Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.95
    •  
  • 9602 Glenshee Drive Rowlett, TX 1
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2004
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 9909 Glenshee Drive Rowlett, TX 2
    • 4 beds 2 baths ∙ 1,926 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,926 Sqft ∙ Built 1999
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 10413 Augusta Lane Rowlett, TX 3
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2001
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 10417 Woodlands Trail Rowlett, TX 5
    • 3 beds 3 baths ∙ 2,085 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,085 Sqft ∙ Built 1999
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.05
    •  
PROPERTY LISTING DETAILS
Jeremy Morgan
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493753
Last Updated: 01/09/2021
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