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5718 Lotus Drive Rowlett, TX 75089

3 Beds 2 Baths 2,035 sqft Built 2016

$330,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $162.16
  • 5 Days on Market
  • MLS # : 14469265
  • Updated Date : 11/11/2020 at 14:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,035 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Lovely one-story home in Rowlett! This home boasts an open layout, three spacious bedrooms, large living room, formal dining area, over-sized kitchen island, granite countertops, stainless steel appliances and a covered patio with fantastic back yard. Conveniently located near major highways, parks and shopping centers - you won’t want to miss out on this cozy gem! Schedule your showing today!

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: 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,218
Property Tax -$790
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$402

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.

$330,000

PROJECTED PRICE

$1,850

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) 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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$179

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,8504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 5718 Lotus Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 1810 Post Oak Drive Rowlett, TX 1
    • 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1997
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 1406 Chatsworth Lane Rowlett, TX 2
    • 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 1997
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 1509 Deerfield Drive Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 1996
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 7306 Deerfield Drive Rowlett, TX 5
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1996
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ashley Gilmore
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469265
Last Updated: 11/11/2020
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