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7216 Cabott Cove Rowlett, TX 75089

4 Beds 5 Baths 4,560 sqft Built 2016

$695,000

List Price

$3,680

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $152.41
  • 7 Days on Market
  • MLS # : 14478550
  • Updated Date : 11/30/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,560 sqft
  • Baths : 4 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Newer construction luxury property built by J Anthony Custom Homes in prestigious Mallard Reserve. Serviced by exemplary Rockwall ISD. This home is inviting, open & offers great design. Wonderful extended sightlines, lake views & high-quality finishes. Study & two master suites down. Functional upstairs with 2 more beds, game room and additional balcony with fireplace & lakeview. Full control 4 home network system. Hard to find 3 car garages. Must see.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
Cullins-lake Pointe Elementary School Primary Regular 764 52 5
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

Cullins-lake Pointe Elementary School

  • Education Level: Primary
  • # of students: 764
  • # of teachers: 52
5
GreatSchools Rating

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$625,500$764,500$695,000

PURCHASE PRICE

$3,312$4,048$3,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,680
EXPENSES Loan Payment -$2,564
Property Tax -$1,457
Property Insurance -$291
Property Management Fees -$99
CASH FLOW
-$731

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.

$695,000

PROJECTED PRICE

$3,680

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,564

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,149

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,680

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,762

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6803$3,795
$3,795
RENT COMPS ANALYSIS
  • 7216 Cabott Cove Rowlett, TX 2
    • 4 beds 5 baths ∙ 4,560 Sqft ∙ Built 2016 4 beds 5 baths ∙ 4,560 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,680
    • $0.81
    •  
  • 9309 Nottingham Court Rowlett, TX 1
    • 5 beds 4 baths ∙ 4,474 Sqft ∙ Built 2002 5 beds 4 baths ∙ 4,474 Sqft ∙ Built 2002
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.80
    •  
  • 9006 Forest Park Court Rowlett, TX 3
    • 5 beds 5 baths ∙ 4,474 Sqft ∙ Built 2016 5 beds 5 baths ∙ 4,474 Sqft ∙ Built 2016
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lee Lamont
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478550
Last Updated: 11/30/2020
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