Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6109 Madison Avenue Rowlett, TX 75089

4 Beds 2 Baths 2,427 sqft Built 1991

$307,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $126.49
  • 4 Days on Market
  • MLS # : 14528755
  • Updated Date : 03/13/2021 at 09:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,427 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Charming home in well established Rowlett neighborhood. Plenty of room for entertaining indoors and out. This spacious home has lots of charm from the see through fire place, to the shutters on every window that allow lots of natural light. Enjoy your evenings sitting on the deck or soaking in the Hot Tub with your favorite beverage of choice. Multiple offers in BEST and FINAL by Friday March 12 at 6pm

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: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k249k

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

Neighborhood: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10951890

* 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
 

$276,300$337,700$307,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,066
Property Tax -$735
Property Insurance -$167
Property Management Fees -$99
CASH FLOW
-$48

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.

$307,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.66%

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

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$87,105

INVESTMENT

$87,105

Down Payment
$76,750
Rehab Estimate
$5,750
Closing Costs
$4,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,750
Loan Amount $230,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,148

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7993$2,0004$2,0205$2,200
$2,200
RENT COMPS ANALYSIS
  • 6109 Madison Avenue Rowlett, TX 4
    • 4 beds 2 baths ∙ 2,427 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,427 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.83
    •  
  • 3501 Locust Street Rowlett, TX 1
    • 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
    •  
  • 1801 Dartbrook Drive Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1993
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.83
    •  
  • 2402 Tallowtree Drive Rowlett, TX 3
    • 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1995
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 7013 Tallowtree Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,336 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,336 Sqft ∙ Built 1997
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
PROPERTY LISTING DETAILS
Russell Underwood
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528755
Last Updated: 03/13/2021
BESbswy