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1813 Palomino Drive Rowlett, TX 75088

5 Beds 3 Baths 3,112 sqft Built 1997

$460,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $147.81
  • 4 Days on Market
  • MLS # : 14499896
  • Updated Date : 01/29/2021 at 09:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,112 sqft
  • Baths : 3 full
Listing Agent

Strahan Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED!! DEADLINE SATURDAY 12PM Jan 30, 2021 Perfection! This home has been completely remodeled w stunning results. Home offers 5 bds with master and 5th bdrm down (currently used as study) w connecting beautifully updated bath. Plantation shutters. Gorgeous tilework in kit. Reclaimed wood used throughout from 100 year old cow farm to create custom floating shelves in lvg, beam in formal dining, brkfst bar, vent hood over stove and more. Stunning walk in pantry with built in cabinets and shelving. Beautifully updated lighting and custom valances throughout. Impressive master bdrm w striking ensuite master bath and updated closet.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Dexham Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $88k360k

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

Neighborhood: Dexham Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9452788

* 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
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,598
Property Tax -$1,102
Property Insurance -$207
HOA -$8
Property Management Fees -$99
CASH FLOW
-$814

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.

$460,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$30

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,168

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,2004$2,300
$2,300
RENT COMPS ANALYSIS
  • 1813 Palomino Drive Rowlett, TX 3
    • 5 beds 3 baths ∙ 3,112 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,112 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.71
    •  
  • 3102 Westshore Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,911 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,911 Sqft ∙ Built 1995
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.69
    •  
  • 1222 Mackey Street Garland, TX 2
    • 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2001
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 2302 Wellesly Road Rowlett, TX 4
    • 5 beds 3 baths ∙ 3,387 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,387 Sqft ∙ Built 1994
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.68
    •  
PROPERTY LISTING DETAILS
Melissa Kumnick
Strahan Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499896
Last Updated: 01/29/2021
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