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7205 Seascape Drive Rowlett, TX 75088

4 Beds 3 Baths 2,172 sqft Built 1986

$290,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $133.52
  • 7 Days on Market
  • MLS # : 14497804
  • Updated Date : 01/11/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,172 sqft
  • Baths : 3 full
Listing Agent

Mkv Real Estate, Llc

Listing Agent's Description

Welcome to an amazing home in a great location with nearby shopping, lake, walking & bike trails & easy access to major highways! This spacious home is perfect for a growing family! The gourmet kitchen offers a wrap around breakfast bar, lots of countertop space & cabinet storage. This open floor plan opens up to a cozy family room with fireplace. Home can offer 2 master bedrooms, one downstairs & one upstairs. The upstairs secluded master retreat has a full bath with vanity, tub, separate shower, and walk-in closet, also can be used as a study, game room, office, etc.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Lakecrest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $107k249k

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

Neighborhood: Lakecrest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10641890

* 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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,007
Property Tax -$694
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
-$163

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.

$290,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.9%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,820

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,015

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7903$1,8004$1,9055$2,100
$2,100
RENT COMPS ANALYSIS
  • 7205 Seascape Drive Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,172 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,172 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.82
    •  
  • 2110 Garner Court Rowlett, TX 1
    • 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 1988
    property image
    LEASED 12/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 2110 Windjammer Way Rowlett, TX 3
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1999
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 3318 Straits Court Rowlett, TX 4
    • 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1988
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,905
    • $0.89
    •  
  • 3514 Lake Highlands Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1998
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Raquel Munoz
Mkv Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497804
Last Updated: 01/11/2021
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