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3407 Orchid Lane Rowlett, TX 75089

3 Beds 2 Baths 1,793 sqft Built 1986

$269,950

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $150.56
  • 3 Days on Market
  • MLS # : 14467425
  • Updated Date : 11/13/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,793 sqft
  • Baths : 2 full
Listing Agent

Avignon Realty

Listing Agent's Description

This gorgeous 3 bedroom plus study 1-story plan with 4 car garage offers many special features: Wood flooring flows from family room throughout all bedrooms, dining, and study areas; Kitchen and both baths have beautiful granite tops and tiles; Study has built-in work area; and laundry room is roomy, new windows treatment and freshly painted all the interior. You can't miss the stamped concrete walkway leading to front porch and a covered back patio as well for R&R spaces. The 2 2-car garages are oversized, well insulated, and enclosed within the board on board fencing. One garage even is heated and cooled! See MLS attachment or call listing agent for more info!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$242,955$296,945$269,950

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 -$996
Property Tax -$646
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
-$222

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.

$269,950

PROJECTED PRICE

$1,650

PROJECTED RENT

0.61%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,287

INVESTMENT

$77,287

Down Payment
$67,488
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,488
Loan Amount $202,463
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,623

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
  • $0.92

    LIST RENT PER SQFT
  • $1,676

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6984$1,7005$1,745
$1,745
RENT COMPS ANALYSIS
  • 3407 Orchid Lane Rowlett, TX 2
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 6306 Azalea Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1986
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 6503 Gardenia Drive Rowlett, TX 3
    • 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
    •  
  • 6409 Locust Street Rowlett, TX 4
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1972
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 3420 Jonquil Lane Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1984
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.00
    •  
PROPERTY LISTING DETAILS
Andy Vo
Avignon Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467425
Last Updated: 11/13/2020
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