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2406 Tallowtree Drive Rowlett, TX 75089

4 Beds 2 Baths 2,150 sqft Built 1996

$310,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $144.19
  • 4 Days on Market
  • MLS # : 14503444
  • Updated Date : 01/21/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,150 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Here it is! An adorable 4 bedroom 2 bath home nestled in the heart of Rowlett. Just minutes from the historic downtown area. Located on a spacious corner lot in a well established community with beautiful ,mature trees throughout. This freshly painted home is ready for new owners! New flooring in the master that has a nice sitting area, expansive master bath with a jacuzzi tub, dual sinks, & a large walk-in closet. New roof and fence added November 2019, and a new AC unit put in 2020. Conveniently located close to highways, & gorgeous Lake Ray Hubbard. Less than 20 min. from the Harbor in Rockwall to play, shop, dine, & explore!

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: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k249k

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

Neighborhood: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10951890

* 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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,077
Property Tax -$742
Property Insurance -$151
Property Management Fees -$99
CASH FLOW
-$120

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.

$310,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.63%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,946

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9504$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2406 Tallowtree Drive Rowlett, TX 3
    • 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 2605 Chinkapin Lane Rowlett, TX 1
    • 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 1997
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
  • 7402 Mazy Lane Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 1995
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 2402 Tallowtree Drive Rowlett, TX 4
    • 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1995
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 7013 Tallowtree Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,336 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,336 Sqft ∙ Built 1997
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
PROPERTY LISTING DETAILS
Patty Turner
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503444
Last Updated: 01/21/2021
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