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7402 Pacific Drive Rowlett, TX 75088

3 Beds 2 Baths 1,373 sqft Built 1986

$229,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $167.44
  • 2 Days on Market
  • MLS # : 14504507
  • Updated Date : 01/23/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,373 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

You will love this adorable home nestled on its lovely corner lot! Kitchen has nice designer countertops with subway tile backsplash and ceramic tile! Living area is spacious and bright with vaulted ceilings and a decorative fireplace for all to enjoy! Recent carpet and ceiling fans throughout! Renovated baths with stylish tile and a new vanity! Step outside to a great backyard with shed and nice side courtyard to boot! Awesome location! Minutes from Lake Ray Hubbard! Close to interstate 30 and George Bush! Enjoy tons of shopping, dining and fun nearby! You do not want to miss this one!

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: The Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: The Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11242171

* 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
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$799
Property Tax -$551
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
-$35

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.

$229,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 13.4%
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$1.0M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5203$1,6254$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 7402 Pacific Drive Rowlett, TX 2
    • 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.11
    •  
  • 4614 Carmel Lane Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1984
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 4514 Ebb Tide Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1984
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.18
    •  
  • 9006 Woodlake Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1984
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.11
    •  
  • 8801 Greentree Drive Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1983
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Elizabeth Rockett
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 #: 14504507
Last Updated: 01/23/2021
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