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6616 Kort Street Rowlett, TX 75089

3 Beds 3 Baths 1,939 sqft Built 2020

INVESTimate

$324,537

List Price

$1,730

$1,557 - $1,903

Rent Est.

$348,163  ( +7.28%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $167.37
  • 7 Days on Market
  • MLS # : 14417789
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,939 sqft
  • Baths : 2 full , 1 half
Listing Agent

David M. Weekley

Listing Agent's Description

Exquisite design and innovative comforts combine to become The Yardley luxury home. Escape to the serenity of the master bedroom suite, with its deluxe bathroom and enough closet space to expand your wardrobe. Each upstairs bedroom provides plenty of living and closet space for growing minds. The study presents a versatile opportunity to craft your ideal home office, fun and games room, or a social parlor. Your open floor plan offers the freedom to create your perfect lifestyle space and features a distinguished corner fireplace. Sleek refinements include a covered porch, bonus spaces, and a downstairs powder room. Start planning your house warming party while we get your dream home ready ready for you!

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
 

$292,083$356,991$324,537

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,197
Property Tax -$777
Property Insurance -$139
HOA -$83
Property Management Fees -$99
CASH FLOW
-$566

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$324,537

PROJECTED PRICE

$1,730

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.28%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,002

INVESTMENT

$88,002

Down Payment
$81,134
Rehab Estimate
$2,000
Closing Costs
$4,868

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,197

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,134
Loan Amount $243,403
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$8

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,769

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7303$1,8004$1,8455$1,995
$1,995
RENT COMPS ANALYSIS
  • 6616 Kort Street Rowlett, TX 2
    • 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.89
    •  
  • 7618 Albany Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2002
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 9602 Glenshee Drive Rowlett, TX 3
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2004
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 9522 Glenshee Drive Rowlett, TX 4
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2004
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.87
    •  
  • 8609 Sawgrass Lane Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2002
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.96
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417789
Last Updated: 08/21/2020
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