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3808 Barnett Road Rowlett, TX 75089

3 Beds 3 Baths 2,203 sqft Built 2020

$327,264

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $148.55
  • 7 Days on Market
  • MLS # : 14486029
  • Updated Date : 12/14/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,203 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready February 2021! The Dorset plan thoughtfully designed main level brings everyone together with an effortless open concept and useful features. Modern linen cabinets, ash quartz counters, grey hexagonal tile, light gray carpet, and ivory oak vinyl plank in our Elegant package. 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

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$294,538$359,990$327,264

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,207
Property Tax -$784
Property Insurance -$155
HOA -$52
Property Management Fees -$99
CASH FLOW
-$467

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.

$327,264

PROJECTED PRICE

$1,830

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$88,725

INVESTMENT

$88,725

Down Payment
$81,816
Rehab Estimate
$2,000
Closing Costs
$4,909

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,207

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,816
Loan Amount $245,448
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$21

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,862

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,8303$1,8504$1,8955$2,149
$2,149
RENT COMPS ANALYSIS
  • 3808 Barnett Road Rowlett, TX 2
    • 3 beds 3 baths ∙ 2,203 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,203 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.83
    •  
  • 5706 San Marino Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2005
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.86
    •  
  • 3410 Knight Drive Rowlett, TX 3
    • 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2008
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 7813 Glenview Way Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2008
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
  • 4318 Constitution Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,539 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,539 Sqft ∙ Built 2001
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,149
    • $0.85
    •  
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 #: 14486029
Last Updated: 12/14/2020
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