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2909 Lakeway Drive Rowlett, TX 75088

4 Beds 3 Baths 3,512 sqft Built 1995

$445,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $126.71
  • 4 Days on Market
  • MLS # : 14472827
  • Updated Date : 11/18/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,512 sqft
  • Baths : 3 full
Listing Agent

Jp & Associates Rockwall

Listing Agent's Description

Welcome to this beautiful, well taken care of home with your personal oasis in the backyard. When you walk in, you are greeted with two ample sized living areas. The gourmet kitchen features upgraded granite counter tops, floors, and appliances making this a chef lover's dream. The oversized master bedroom has plenty of room for your home office or sitting area along with double closets and an upgraded bathroom. Head out back for ultimate relaxation with a new covered patio that leads to an immaculate pool area. Here you have Electronic Solar Screens and an Awning for year round comfort. Privacy fencing, beautiful gardens, and mature trees make this home a must see!

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: Westwood Shores

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k346k

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

Neighborhood: Westwood Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262742

* 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
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$1,642
Property Tax -$1,066
Property Insurance -$230
Property Management Fees -$99
CASH FLOW
-$187

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.

$445,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,276

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,599

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,380
1$2,3802$2,4003$2,850
$2,850
RENT COMPS ANALYSIS
  • 2909 Lakeway Drive Rowlett, TX 3
    • 4 beds 3 baths ∙ 3,512 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,512 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.81
    •  
  • 13 Winding Creek Trail Garland, TX 1
    • 3 beds 3 baths ∙ 3,311 Sqft ∙ Built 1987 3 beds 3 baths ∙ 3,311 Sqft ∙ Built 1987
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.72
    •  
  • 1405 Sunscape Way Garland, TX 2
    • 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
PROPERTY LISTING DETAILS
Justin Slay
Jp & Associates Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472827
Last Updated: 11/18/2020
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