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5613 Cypress Drive Rowlett, TX 75089

3 Beds 2 Baths 1,848 sqft Built 1995

INVESTimate

$265,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$287,180  ( +8.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $143.40
  • 6 Days on Market
  • MLS # : 14374956
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,848 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Beautifully updated and lovingly maintained brick single story home. Open floor plan with vaulted ceilings and gorgeous decorative fireplace. Light and bright white kitchen and bathrooms contrast beautifully with the freshly painted grey walls throughout. Stylish and practical luxury vinyl plank flooring adds a rustic element to the fresh modern vibe. Lovely landscaped and fenced in back yard with patio area. Perfect home for relaxing and entertaining friends and family.

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: Northpark

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k249k

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

Neighborhood: Northpark

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451890

* 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$978
Property Tax -$635
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
-$195

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.

$265,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.37%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,659

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6003$1,6504$1,6955$1,775
$1,775
RENT COMPS ANALYSIS
  • 5613 Cypress Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 6008 Cedar Lane Rowlett, TX 1
    • 4 beds 2 baths ∙ 1,860 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,860 Sqft ∙ Built 1975
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.85
    •  
  • 6306 Azalea Drive Rowlett, TX 2
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1986
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 5817 Beacon Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1987
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 1502 Battlefield Drive Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1987
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.94
    •  
PROPERTY LISTING DETAILS
Brandee Wilkins
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14374956
Last Updated: 08/21/2020
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