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2712 Sumac Lane Rowlett, TX 75089

3 Beds 2 Baths 1,754 sqft Built 1986

$255,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $145.38
  • 2 Days on Market
  • MLS # : 14495794
  • Updated Date : 01/09/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,754 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Updated and ready for new owners to move in! This home features 3 bedrooms and 2 full baths with a spacious living area that includes a cozy gas starter fireplace, large kitchen with a separate breakfast area, and a formal dining room located just off the kitchen. There is brand new wood look ceramic tile throughout the home. Outside you will find a great covered patio along with a large back yard perfect for outdoor play or gatherings. Hurry - this is a great find and won't last long!

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: Flower Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $118k249k

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

Neighborhood: Flower Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10531890

* 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$886
Property Tax -$611
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$74

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.

$255,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$5,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,662

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5993$1,6504$1,6955$1,698
$1,698
RENT COMPS ANALYSIS
  • 2712 Sumac Lane Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 6608 Gardenia Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1987
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 6602 Gardenia Drive Rowlett, TX 2
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1987
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.91
    •  
  • 6801 Trumpet Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1993
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 6503 Gardenia Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 1994
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,698
    • $0.92
    •  
PROPERTY LISTING DETAILS
Karen Hallman
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495794
Last Updated: 01/09/2021
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