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2210 Mitchell Lane Rowlett, TX 75088

3 Beds 3 Baths 2,281 sqft Built 2002

$295,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $129.33
  • 5 Days on Market
  • MLS # : 14497955
  • Updated Date : 01/14/2021 at 09:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,281 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Gorgeous single-story home in a great subdivision neighboring Lake Ray Hubbard with easy access to the George Bush Turnpike. Great curb appeal with mature landscaping, a covered porch, and large windows. Open concept with impressive hardwoods and crown molding in the foyer, formal dining room, and office. The family room has a gas fireplace. The kitchen features tile backsplash, dual sinks, a walk-in pantry, and gas appliances with a cooktop. The master suite has a walk-in closet and a luxurious 5-piece bathroom with a garden tub. Guest bedrooms are a generous size. The private yard has a patio and a well-maintained lawn. Clean and move-in ready

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: 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,025
Property Tax -$706
Property Insurance -$159
HOA -$25
Property Management Fees -$99
CASH FLOW
-$44

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.

$295,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,771

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,785

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9703$1,9754$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 2210 Mitchell Lane Rowlett, TX 2
    • 3 beds 3 baths ∙ 2,281 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,281 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.86
    •  
  • 4205 Jasper Court Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2002
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 2414 Brittany Drive Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2000
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.77
    •  
  • 4114 Pointe Loma Drive Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1997
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 4217 Pecan Grove Lane Rowlett, TX 5
    • 3 beds 2 baths ∙ 2,573 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,573 Sqft ∙ Built 1997
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.81
    •  
PROPERTY LISTING DETAILS
Quen Williams
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497955
Last Updated: 01/14/2021
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