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2405 La Costa Drive Rowlett, TX 75088

4 Beds 5 Baths 2,364 sqft Built 2017

$370,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $156.51
  • 2 Days on Market
  • MLS # : 14497866
  • Updated Date : 01/23/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,364 sqft
  • Baths : 4 full , 1 half
Listing Agent

Standard Real Estate

Listing Agent's Description

Gorgeous 2017 energy-efficient new build! Builders warranty in place until 2027! Home is walking distance to the lake, fishing pier, family park and dog parks! Beautiful wood floors throughout with tile in the bathrooms. Lovely kitchen with beautiful cabinets, granite island with bar seating and the ever-popular pot filler! Great sight-lines from the kitchen to the living areas make this home great for entertaining! Master suite with tray ceiling and a beautiful designer barn door. Bonus room upstairs with full ensuite bathroom that would make a great FIFTH bedroom, office, kids area or a secondary living area. MUST SEE storm shelter hidden in secondary bedroom. Relax on covered patios and take in lake views!

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: Vue du Lac

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $101k249k

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

Neighborhood: Vue du Lac

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10891890

* 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

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,285
Property Tax -$886
Property Insurance -$164
HOA -$55
Property Management Fees -$99
CASH FLOW
-$349

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$370,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,120

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1403$2,2504$2,500
$2,500
RENT COMPS ANALYSIS
  • 2405 La Costa Drive Rowlett, TX 2
    • 4 beds 5 baths ∙ 2,364 Sqft ∙ Built 2017 4 beds 5 baths ∙ 2,364 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.91
    •  
  • 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
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 7210 Lynn Drive Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2019
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 7707 Coronado Drive Rowlett, TX 4
    • 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2019
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Michael Delgado
Standard Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497866
Last Updated: 01/23/2021
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