Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4006 Tropic Lane Rowlett, TX 75088

3 Beds 3 Baths 2,625 sqft Built 1990

$317,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $121.10
  • 2 Days on Market
  • MLS # : 14460104
  • Updated Date : 11/07/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,625 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cardamon Realty Group

Listing Agent's Description

Extensively updated 2 story home featuring 3 bedrooms (master downstairs), incredible jaw dropping master bath, with roman tub, & marble style tile on floor, and shower walls. 2.5 baths, 2 huge living areas & 2 dining areas. Upgrades include: interior & exterior paint; extensive hand scraped hardwood tile flooring; new lighting; see through kitchen to dining room granite top counter, wood & metal staircase railing. Granite counter tops in kitchen with beautiful back splash & granite tops in all bathrooms. Upgraded trim package includes 3 inch baseboards, extensive souring ceilings, double FP mantle & molding on fireplace, extended driveway new fence, updated stainless appliances. come see Ready to move in home.

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: The Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: The Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11242171

* 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
 

$286,110$349,690$317,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,173
Property Tax -$761
Property Insurance -$179
Property Management Fees -$99
CASH FLOW
-$282

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.

$317,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 13.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,994

INVESTMENT

$89,994

Down Payment
$79,475
Rehab Estimate
$5,750
Closing Costs
$4,769

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,475
Loan Amount $238,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,242

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,021

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,9304$2,1505$2,175
$2,175
RENT COMPS ANALYSIS
  • 4006 Tropic Lane Rowlett, TX 3
    • 3 beds 3 baths ∙ 2,625 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,625 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.74
    •  
  • 7613 Tidewater Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1996
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 7702 Harbor Drive Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 3714 Catalina Street Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 1989
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
  • 8114 Carson Court Rowlett, TX 5
    • 3 beds 3 baths ∙ 2,716 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,716 Sqft ∙ Built 1990
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.80
    •  
PROPERTY LISTING DETAILS
John Cardamon
Cardamon Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460104
Last Updated: 11/07/2020
BESbswy