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5821 Iris Drive Rowlett, TX 75089

4 Beds 2 Baths 2,069 sqft Built 1992

$284,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $137.70
  • 4 Days on Market
  • MLS # : 14522417
  • Updated Date : 02/25/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,069 sqft
  • Baths : 2 full
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

Single Story home in Rowlett,4 bed,2 bath ,2 car home with many upgrades,Granite Counter Tops and Tile Back splash in kitchen,Laminated floor,spacious living area,nice backyard, and sprinkler system

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: Flower Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $118k249k

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

Neighborhood: Flower Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10531890

* 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
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$990
Property Tax -$682
Property Insurance -$147
Property Management Fees -$99
CASH FLOW
-$38

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.

$284,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.3%
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-$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$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,8804$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 5821 Iris Drive Rowlett, TX 3
    • 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.91
    •  
  • 5817 Beacon Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1987
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 3501 Locust Street Rowlett, TX 2
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1986
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 3420 Lily Lane Rowlett, TX 4
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1987
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 3421 Lily Lane Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1987
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Thomas Thaimuriyil
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522417
Last Updated: 02/25/2021
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