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7309 Maplewood Drive Rowlett, TX 75089

3 Beds 2 Baths 1,854 sqft Built 1999

$279,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $150.97
  • 2 Days on Market
  • MLS # : 14485586
  • Updated Date : 12/12/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

WELCOME TO THIS BEAUTIFUL 1 STORY, 3 BEDROOM, 2 FULL BATH HOME WITH AN OFFICE! This home is move-in ready and offers a large living room with a wood-burning fireplace and brick surround. As you step inside the kitchen you will find lots of cabinetry and counter space along with a breakfast room that looks out to the covered back patio and private backyard. The primary bedroom is separate from the secondary bedrooms and features an ensuite bathroom with dual vanities. Home is within minutes to Lake Ray Hubbard and several highways including Hwy 121, 66 and 30. Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,033
Property Tax -$670
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
-$136

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.

$279,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.64%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7954$1,8005$1,875
$1,875
RENT COMPS ANALYSIS
  • 7309 Maplewood Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 7801 Estates Way Rowlett, TX 1
    • 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
    •  
  • 7202 Airline Drive Rowlett, TX 2
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1999
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 7301 Travelers Crossing Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2003
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 7601 Maplewood Drive Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 2001
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.03
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485586
Last Updated: 12/12/2020
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