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4209 Glistening Springs Rowlett, TX 75088

4 Beds 3 Baths 2,621 sqft Built 2001

$329,900

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $125.87
  • 3 Days on Market
  • MLS # : 14474442
  • Updated Date : 11/20/2020 at 17:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,621 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

GATED! 1 Story! 4 bed! 2.5 bath! Huge manicured yard! Open concept living! Tall ceilings! Large kitchen has granite, island, butlers pantry and room for a large table. Spacious owners retreat is tucked away and has enough space for a sitting area plus a king size bed. En Suite bathroom also has a Huge walk in closet, separate tub and shower and dual sinks. Secondary bedrooms are spacious and have plenty of storage room. Large Covered outside porch is very functional with a gate plus extended uncovered porch. Huge backyard has enough space for a pool and more, plus it has an updated fence with metal posts. Excellent location! Close to PGBT and HWY 30. Come and see this home before it's gone!

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: Magnolia Springs

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k305k

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

Neighborhood: Magnolia Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262141

* 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
 

$296,910$362,890$329,900

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 -$1,217
Property Tax -$790
Property Insurance -$179
HOA -$47
Property Management Fees -$99
CASH FLOW
-$192

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$329,900

PROJECTED PRICE

$2,140

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,058

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
  • $0.82

    LIST RENT PER SQFT
  • $2,116

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0003$2,0954$2,1405$2,295
$2,295
RENT COMPS ANALYSIS
  • 4209 Glistening Springs Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.82
    •  
  • 2414 Brittany Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2000
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.77
    •  
  • 4114 Pointe Loma Drive Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1997
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 4217 Pecan Grove Lane Rowlett, TX 3
    • 3 beds 2 baths ∙ 2,573 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,573 Sqft ∙ Built 1997
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.81
    •  
  • 3105 Chalkstone Drive Rowlett, TX 5
    • 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 1999
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.89
    •  
PROPERTY LISTING DETAILS
Donna Bradshaw
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474442
Last Updated: 11/20/2020
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