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3621 Banton Street Rowlett, TX 75089

4 Beds 3 Baths 2,954 sqft Built 2021

$451,657

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $152.90
  • 3 Days on Market
  • MLS # : 14504681
  • Updated Date : 01/22/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,954 sqft
  • Baths : 3 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready June 2021! Skip your commute and work from home by purposing the Biltmore’s flex space into an office. The thoughtfully laid out single-story home boasts an open kitchen great room anchored by a large triangle-shaped island. Whether you're looking for something fun or running errands, you'll love the proximity to shopping, dining & entertainment. Located just off President George Bush Tpke near Lake Ray Hubbard, Northaven features numerous amenities like a community center, greenbelt, and miles of trails. Known for their energy-efficient features, our homes help you live a healthier lifestyle while saving thousands on utility bills.

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: Rowlett

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Rowlett

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262404

* 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
 

$406,491$496,823$451,657

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,569
Property Tax -$1,082
Property Insurance -$198
HOA -$52
Property Management Fees -$99
CASH FLOW
-$859

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$451,657

PROJECTED PRICE

$2,140

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 3.00%
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-$16k-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,689

INVESTMENT

$121,689

Down Payment
$112,914
Rehab Estimate
$2,000
Closing Costs
$6,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,569

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,914
Loan Amount $338,743
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$38

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,149

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1403$2,1504$2,1995$2,500
$2,500
RENT COMPS ANALYSIS
  • 3621 Banton Street Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,954 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,954 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.72
    •  
  • 5602 San Marino Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 3,126 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,126 Sqft ∙ Built 2003
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.64
    •  
  • 6006 San Marino Drive Rowlett, TX 3
    • 4 beds 3 baths ∙ 3,126 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,126 Sqft ∙ Built 2004
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.69
    •  
  • 6122 San Marino Drive Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,916 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,916 Sqft ∙ Built 2001
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.75
    •  
  • 7200 Willow Wood Street Rowlett, TX 5
    • 5 beds 3 baths ∙ 3,005 Sqft ∙ Built 2019 5 beds 3 baths ∙ 3,005 Sqft ∙ Built 2019
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504681
Last Updated: 01/22/2021
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