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7017 Westway Drive Rowlett, TX 75089

3 Beds 2 Baths 2,185 sqft Built 2003

$294,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $134.97
  • 3 Days on Market
  • MLS # : 14512541
  • Updated Date : 02/05/2021 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,185 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Wonderful floor plan! This home offers 3 larger sized bedrooms in a split plan great for privacy. Study with French doors and formal dining are off the main entry. The kitchen has stainless steel gas stove and super quiet Bosch dishwasher. Breakfast bar overlooks an expansive family room centered around a beautiful tile fireplace. The master suite has a garden tub, separate shower, dual sinks & huge 11x8 walk in closet! New energy efficient variable speed Central AC Unit and Heater in 2019; Gas Water Heater in 2018. New 65' rear wood fence with steel poles 6' apart. No back neighbor adds extra privacy. Easement in front of house adds extra green space for play. $400 producing pecan tree added to front yard.

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: Princeton Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Princeton Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10992171

* 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
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,024
Property Tax -$706
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
-$43

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.

$294,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.2%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,024

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,972

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8953$1,9404$2,0955$2,175
$2,175
RENT COMPS ANALYSIS
  • 7017 Westway Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.89
    •  
  • 8009 Courageous Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1985
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 8005 Wilmington Drive Rowlett, TX 2
    • 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2003
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 7801 Park Lane Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1986
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.90
    •  
  • 6805 Essex Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,227 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,227 Sqft ∙ Built 2003
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.98
    •  
PROPERTY LISTING DETAILS
Janet Emigh
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512541
Last Updated: 02/05/2021
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