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6801 Driftwood Lane Rowlett, TX 75089

4 Beds 3 Baths 2,310 sqft Built 2013

$380,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $164.50
  • 2 Days on Market
  • MLS # : 14535764
  • Updated Date : 03/20/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,310 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Llc

Listing Agent's Description

Gorgeous single story home in the sought after Lake Valley Estates. This is an entertainer dream home with the open layout. Rich hardwoods greet you as you enter the home to the open family room and kitchen. Granite countertops, Undermount lights, back splash, under mount sink and a gas fire place are just some of the wonderful things this home has to offer. Oversized 3 car split garage is the cherry on top to use as a workshop or extra storage space. This home is fresh & modernized with a location close to the George Bush for easy commuting. Don't miss this home that is ready for its new family to make memories here!

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: Lake Valley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k314k

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

Neighborhood: Lake Valley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262273

* 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
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,320
Property Tax -$910
Property Insurance -$161
HOA -$58
Property Management Fees -$99
CASH FLOW
-$628

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.

$380,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$13

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8753$1,8954$1,9205$2,200
$2,200
RENT COMPS ANALYSIS
  • 6801 Driftwood Lane Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.83
    •  
  • 7118 Compass Point Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2003
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 7310 Compass Point Drive Rowlett, TX 2
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 2002
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.76
    •  
  • 8005 Wilmington Drive Rowlett, TX 3
    • 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2003
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 7202 Bickers Drive Rowlett, TX 5
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2007
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
PROPERTY LISTING DETAILS
Shannon Bartee
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535764
Last Updated: 03/20/2021
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