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3606 Faulkner Drive Rowlett, TX 75088

3 Beds 2 Baths 2,432 sqft Built 1984

$375,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $154.19
  • 7 Days on Market
  • MLS # : 14475910
  • Updated Date : 11/23/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,432 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty Llc

Listing Agent's Description

WOW! Location, Location, Location! Minutes from Lake Ray Hubbard, with lake views on the opposite side of the street, this home features it all! With your very own, oasis in the backyard, the pool and spa and outdoor patio area are PERFECT for entertaining! Recent interior updates include custom shiplap walls, Shiplap dark stained vaulted ceilings in the breakfast nook, new tile wood flooring and much more! The updated, open concept kitchen feeds right into to primary living headquarters, and also feeds into the wet bar and secondary living space! The Large and spacious master bedroom, feeds into the newly remodeled master bathroom with separate bath and walk in shower! Hurry!! This home will not last long!!!!

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: Toler Bay Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Toler Bay 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,384
Property Tax -$898
Property Insurance -$168
Property Management Fees -$99
CASH FLOW
-$648

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.

$375,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$3

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9603$1,9754$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 3606 Faulkner Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 2,432 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,432 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.78
    •  
  • 4214 Cedar Creek Drive Garland, TX 2
    • 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 1977
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.82
    •  
  • 2414 Brittany Drive Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2000
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.77
    •  
  • 4114 Pointe Loma Drive Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1997
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 4217 Pecan Grove Lane Rowlett, TX 5
    • 3 beds 2 baths ∙ 2,573 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,573 Sqft ∙ Built 1997
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.81
    •  
PROPERTY LISTING DETAILS
Chasatee Carbaugh
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475910
Last Updated: 11/23/2020
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