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

2402 Brittany Drive Rowlett, TX 75088

3 Beds 2 Baths 2,162 sqft Built 2000

INVESTimate

$320,000

List Price

$1,770

$1,593 - $1,947

Rent Est.

$349,856  ( +9.33%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $148.01
  • 7 Days on Market
  • MLS # : 14417116
  • Updated Date : 08/20/2020 at 06:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,162 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Beautiful home in sought after Ridgecove! This 3 bed, 2 bath home has a great open floor plan. Spacious living area open to the kitchen with breakfast bar and stainless appliances. Private study, formal dining room along with a breakfast area. Large master suite featuring master bath with double vanity, jetted tub, and separate glass shower. Nice backyard with patio, wood privacy fence, and storage building. Come see for yourself!

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

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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,181
Property Tax -$766
Property Insurance -$152
HOA -$25
Property Management Fees -$99
CASH FLOW
-$453

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.

$320,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.33%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$23

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,816

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,7703$1,8504$1,8955$2,150
$2,150
RENT COMPS ANALYSIS
  • 2402 Brittany Drive Rowlett, TX 2
    • 3 beds 2 baths ∙ 2,162 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,162 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.82
    •  
  • 3409 Ardis Drive Rowlett, TX 1
    • 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 1980
    property image
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.78
    •  
  • 5109 Gulfport Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 2,158 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,158 Sqft ∙ Built 1995
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 1602 Camelot Lane Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1984
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.82
    •  
  • 4814 Bayonne Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,399 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,399 Sqft ∙ Built 1999
    property image
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
PROPERTY LISTING DETAILS
Casey Ashton
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417116
Last Updated: 08/20/2020
BESbswy