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7302 Sand Pine Drive Rowlett, TX 75089

4 Beds 2 Baths 2,422 sqft Built 1997

$345,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $142.44
  • 2 Days on Market
  • MLS # : 14507483
  • Updated Date : 02/06/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,422 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

Newly updated, four-bedroom house with pool. Lots of natural light and neutral colors throughout that are just waiting for your personal touch. The big kitchen has lots of counter space and cabinets, farm sink and an island. The master bedroom has a large bathroom with tub and separate walk-in shower and a big, walk-in closet.

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: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k249k

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

Neighborhood: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10951890

* 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,198
Property Tax -$826
Property Insurance -$167
Property Management Fees -$99
CASH FLOW
-$271

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.

$345,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
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-$8.0k-$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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,404

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,180

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,0204$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 7302 Sand Pine Drive Rowlett, TX 3
    • 4 beds 2 baths ∙ 2,422 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,422 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.83
    •  
  • 7813 Glenview Way Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2008
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
  • 2402 Tallowtree Drive Rowlett, TX 2
    • 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1995
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 3118 Grand Bay Drive Garland, TX 4
    • 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2017
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 7013 Tallowtree Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,336 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,336 Sqft ∙ Built 1997
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jennifer Hurst
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507483
Last Updated: 02/06/2021
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