Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1918 Benedict Court Rowlett, TX 75088

4 Beds 3 Baths 2,811 sqft Built 2003

$370,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $131.63
  • 3 Days on Market
  • MLS # : 14462875
  • Updated Date : 11/01/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,811 sqft
  • Baths : 2 full , 1 half
Listing Agent

G+a Real Estate

Listing Agent's Description

Welcome home to this updated and move-in ready Ridgecove beauty! This stunning high ceiling home features 4 bedrooms, 2.5 baths, 3 living areas, granite counter tops, gas stove, pool and spa! Enjoy this first floor master suite plan thats perfect for entertaining with updates that include wood floors, HVAC and water heater. You will also be pleased by the easy driving distance to downtown Dallas and the short distance to Lake Ray Hubbard! A must see!

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: Ridgecove

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Ridgecove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $11262598

* 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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,365
Property Tax -$886
Property Insurance -$190
HOA -$25
Property Management Fees -$99
CASH FLOW
-$395

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.

$370,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,164

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1703$2,1994$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1918 Benedict Court Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,811 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,811 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.77
    •  
  • 4114 Pointe Loma Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1997
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 4501 Brittany Drive Rowlett, TX 3
    • 3 beds 3 baths ∙ 2,692 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,692 Sqft ∙ Built 2000
    property image
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.82
    •  
  • 4114 Baywatch Drive Rowlett, TX 4
    • 4 beds 4 baths ∙ 3,011 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,011 Sqft ∙ Built 1995
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
  • 5210 Orlando Circle Rowlett, TX 5
    • 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 1999
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.77
    •  
PROPERTY LISTING DETAILS
Subhi Gharbieh
G+a Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462875
Last Updated: 11/01/2020
BESbswy