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1202 Rock Street Bowie, TX 76230

3 Beds 2 Baths 1,650 sqft Built 9999

$132,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 9999
  • Price/Sqft : $80.00
  • 3 Days on Market
  • MLS # : 14492872
  • Updated Date : 01/01/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Parker Properties

Listing Agent's Description

Looking for a cute home in the middle of Bowie, TX? Look no further!! This three bed, two bath, 1600+sqft home is waiting for its next owners to provide the necessary TLC! Minutes from historic downtown Bowie, 30 minutes to Decatur, and a little over an hour to Fort Worth!

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

Zip Code: 76230

ZipCityMarket20102015Year2007 Q2201980k90k100k110k120k130k140kPrice in $71k145k

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

Zip Code: 76230

No Data Available.

* 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
Bowie Intermediate School Primary Regular 389 25 4
Bowie Junior High School Middle Regular 365 28 5
Bowie High School High Regular 460 37 5

Bowie Intermediate School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 25
4
GreatSchools Rating

Bowie Junior High School

  • Education Level: Middle
  • # of students: 365
  • # of teachers: 28
5
GreatSchools Rating

Bowie High School

  • Education Level: High
  • # of students: 460
  • # of teachers: 37
5
GreatSchools Rating
 

$118,800$145,200$132,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$487
Property Tax -$252
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
$263

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$132,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.92%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$40,730

INVESTMENT

$40,730

Down Payment
$33,000
Rehab Estimate
$5,750
Closing Costs
$1,980

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$487

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $33,000
Loan Amount $99,000
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$29,546

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,238

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$895
1$8952$1,1003$1,220
$1,220
RENT COMPS ANALYSIS
  • 1202 Rock Street Bowie, TX 3
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 9999 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 9999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.74
    •  
  • 908 Circle Bowie, TX 1
    • 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 9999 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 9999
    property image
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.69
    •  
  • 900 Elba Street Bowie, TX 2
    • 3 beds 1 baths ∙ 1,356 Sqft ∙ Built 9999 3 beds 1 baths ∙ 1,356 Sqft ∙ Built 9999
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.81
    •  
PROPERTY LISTING DETAILS
Dylan Slade
Parker Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492872
Last Updated: 01/01/2021
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