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7305 Fairfield Drive Rowlett, TX 75089

3 Beds 2 Baths 1,565 sqft Built 1999

$239,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $153.29
  • 3 Days on Market
  • MLS # : 14485241
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,565 sqft
  • Baths : 2 full
Listing Agent

Alta Realty Company, Llc

Listing Agent's Description

This lovely, well maintained home is ready for its new owners. The home is full of upgrades throughout including an updated kitchen, laminated hardwood flooring throughout, recently replaced fence, repaired foundation, updated AC and heating system, and more. The backyard boasts an extended covered patio with mature trees. On the interior, there is an oversized living area with a wood burning fireplace as well as a family area that can be used as an office, dining, or extra sitting room. The neighborhood is convenient to shopping, Lake Ray Hubbard and it provides easy access to major highways.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$885
Property Tax -$574
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
-$106

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.

$239,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5703$1,6504$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 7305 Fairfield Drive Rowlett, TX 2
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.00
    •  
  • 7702 Park Lane Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1992
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.01
    •  
  • 7801 Estates Way Rowlett, TX 3
    • 4 beds 2 baths ∙ 1,679 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,679 Sqft ∙ Built 1986
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 7210 Gillon Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1995
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 7814 Dartmouth Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1996
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.06
    •  
PROPERTY LISTING DETAILS
Chad Joyce
Alta Realty Company, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485241
Last Updated: 12/11/2020
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