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2349 Rooster Lane Northlake, TX 76247

4 Beds 4 Baths 2,800 sqft Built 2021

$360,987

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $128.92
  • 5 Days on Market
  • MLS # : 14503275
  • Updated Date : 01/20/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,800 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

GORGEOUS NEW 2 STORY D.R. HORTON HOME in the MASTER PLANNED COMMUNITY OF PECAN SQUARE in NORTHLAKE & NORTHWEST ISD!~Sun Valley 4-3.5-2 Floorplan (Elev D) Est completion Spring 2021*Modern Kitchen Design with abundant cabinetry,Granite CT,Gas Range,over sized Island & W-I Pantry opens to spacious Family with FP*Study & Primary Bedroom down with Garden Tub,over sized Shower & lrg W-I Closet*Secondary Bedrooms,2 full Baths up split by big Gameroom & sitting area*Designer Pkg including tiled Entry,Hallways & Wet areas*Home is Connected Smart Home Technology,covered back Patio,Landscape Pkg,full Sprinklers*Community Pools,Playgrounds,Clubhouse,Fitness Center,Post & Parcel Store,Arena for Live Music,gatherings & more

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10532370

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$324,888$397,086$360,987

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$1,254
Property Tax -$752
Property Insurance -$189
HOA -$175
Property Management Fees -$99
CASH FLOW
$221

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$360,987

PROJECTED PRICE

$2,690

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 3.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$97,662

INVESTMENT

$97,662

Down Payment
$90,247
Rehab Estimate
$2,000
Closing Costs
$5,415

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,247
Loan Amount $270,740
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$34,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,667

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,499
1$2,4992$2,6003$2,6004$2,6505$2,690
$2,690
RENT COMPS ANALYSIS
  • 2349 Rooster Lane Northlake, TX 5
    • 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.96
    •  
  • 204 Bluebird Way Argyle, TX 1
    • 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2016
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.95
    •  
  • 304 Gannet Trail Argyle, TX 2
    • 4 beds 4 baths ∙ 2,782 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,782 Sqft ∙ Built 2016
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 109 Oakmont Drive Northlake, TX 3
    • 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 81 Oakmont Drive Argyle, TX 4
    • 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2017
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503275
Last Updated: 01/20/2021
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