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3514 Bridgewater Drive Rowlett, TX 75088

4 Beds 4 Baths 2,792 sqft Built 1998

$350,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $125.36
  • 6 Days on Market
  • MLS # : 14520577
  • Updated Date : 02/26/2021 at 15:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,792 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jeanie Marten Real Estate, Llc

Listing Agent's Description

Mature tree and red door make this home pop! Entry features high ceiling & chandelier + grey wood look floors throughout home. Perfect home office on the left with the formal dining on the right with kitchen access. Kitchen is bright with white crisp cabinetry, granite counters, island + over-sized breakfast bar & tile backsplash. Access to half bath & rear garage entry. Living room is open to kitchen with deco tile fireplace & windows let in view of yard. Upstairs master oasis equipped with modern tile step in shower, garden tub, double sink vanity + crystal chandelier. 2 spare bedrooms share a guest bath & down hall is second living area with private suite. Out back is a stone patio and rolling gate.

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: Cambridge Meadow Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Cambridge Meadow Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,216
Property Tax -$838
Property Insurance -$189
Property Management Fees -$99
CASH FLOW
-$161

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.

$350,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,698

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,178

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9753$2,1504$2,1755$2,180
$2,180
RENT COMPS ANALYSIS
  • 3514 Bridgewater Drive Rowlett, TX 5
    • 4 beds 4 baths ∙ 2,792 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,792 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.78
    •  
  • 7613 Tidewater Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1996
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 207 Point Royal Drive Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1981
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.80
    •  
  • 3714 Catalina Street Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 1989
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
  • 8114 Carson Court Rowlett, TX 4
    • 3 beds 3 baths ∙ 2,716 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,716 Sqft ∙ Built 1990
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jeanie Marten
Jeanie Marten Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520577
Last Updated: 02/26/2021
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