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3601 Smartt Street Rowlett, TX 75088

4 Beds 3 Baths 2,590 sqft Built 1988

$340,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $131.27
  • 4 Days on Market
  • MLS # : 14464523
  • Updated Date : 12/04/2020 at 14:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,590 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Elegant, unique, split level home in highly desired Westwood Estates. Close to PGBT, I30, Hwy 66, shopping, dining, schools and medical. Spacious, luxurious floor plan with open concept and lots of natural light. Elegant dining and living room with romantic fireplace. Nice sized kitchen (refrigerator stays) and dining area with great views of the backyard and walk out to a covered balcony with room to relax on. Nice sized family room. Spacious bedrooms. Beautiful bathrooms. Located on a large corner lot. Large covered patio as well as a beautiful gazebo is great for entertaining. Circle drive in front provides dramatic drive-up appeal as well as room for additional parking. Must see! Won't last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Westwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Westwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10982171

* 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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,254
Property Tax -$814
Property Insurance -$177
Property Management Fees -$99
CASH FLOW
-$424

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.

$340,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,066

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9203$1,9954$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3601 Smartt Street Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.74
    •  
  • 4205 Jasper Court Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2002
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 3918 Smartt Street Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 2129 Kirby Road Rowlett, TX 4
    • 3 beds 3 baths ∙ 2,442 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,442 Sqft ∙ Built 2000
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 3302 Westwood Circle Rowlett, TX 5
    • 3 beds 3 baths ∙ 2,786 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,786 Sqft ∙ Built 1980
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
PROPERTY LISTING DETAILS
Daniel Cirulis
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464523
Last Updated: 12/04/2020
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