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3705 Smartt Street Rowlett, TX 75088

3 Beds 2 Baths 1,538 sqft Built 1992

$250,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $162.55
  • 3 Days on Market
  • MLS # : 14533612
  • Updated Date : 03/20/2021 at 16:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,538 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

This darling brick home is move-in ready! Open lay-out has plenty of room for entertaining and tons of natural light with large windows, tall ceilings and floor to ceiling brick fireplace! Split bedroom floor-plan is convenient with new carpet in the front bedrooms and hall. Primary bedroom has walk-in-closet and beautifully remodeled bathroom. Kitchen has Silestone counters, pantry, gas range and breakfast bar. Wood fence and large grassy backyard!

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: 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$868
Property Tax -$599
Property Insurance -$116
Property Management Fees -$99
CASH FLOW
-$132

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.

$250,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.62%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6504$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 3705 Smartt Street Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 3610 Flagstone Avenue Rowlett, TX 2
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1989
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 3315 Sara Drive Rowlett, TX 3
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1984
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 4010 Osage Drive Rowlett, TX 4
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1979
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.08
    •  
  • 4010 Smartt Street Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1985
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
PROPERTY LISTING DETAILS
Heather Kobs
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533612
Last Updated: 03/20/2021
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