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4502 Mariner Drive Rowlett, TX 75088

3 Beds 2 Baths 1,431 sqft Built 2016

$235,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $164.22
  • 2 Days on Market
  • MLS # : 14488175
  • Updated Date : 12/18/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,431 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Lovely 3 bedroom with 2 living areas is sure to please. Stained Barn Doors separate the two living areas (2nd living could also serve as a bedroom). The living room features wood floors and a built in bookcase. Granite counters and tile floors in kitchen and baths. The Master Bath features a jetted tub and 2nd bath offers an oversized walk in shower. Enjoy cool evenings by the fire pit in the backyard in addition to the large covered patio for those warmer days. A great storage room is located off the patio.

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: 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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$867
Property Tax -$563
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
-$49

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.

$235,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,575

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,399

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6953$1,6954$1,6955$1,725
$1,725
RENT COMPS ANALYSIS
  • 4502 Mariner Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.11
    •  
  • 6809 Ports O Call Drive Rowlett, TX 2
    • 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 1999
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 7202 Airline Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1999
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 9802 Cypress Cove Rowlett, TX 4
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 7210 Compass Point Drive Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2003
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.99
    •  
PROPERTY LISTING DETAILS
Kimberly Garland
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488175
Last Updated: 12/18/2020
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