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7417 Gillon Drive Rowlett, TX 75089

4 Beds 3 Baths 2,700 sqft Built 1993

$300,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $111.11
  • 6 Days on Market
  • MLS # : 14462252
  • Updated Date : 10/29/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

You won’t want to miss this one! With a warm and inviting open concept floor plan that is sure to please the whole family. Your new home features updated neutral paint colors, travertine floors down, and LVP upstairs - NO CARPET! Downstairs features formal living and dining with sight lines into the kitchen and family room. The oversized master bedroom features its own private sitting area with spa like bathroom and clawfoot tub. With easy access to PGBT and I-30 and just a few short minutes to Lake Ray Hubbard this home has it all!

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,107
Property Tax -$718
Property Insurance -$183
Property Management Fees -$99
CASH FLOW
-$8

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.

$300,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.70%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$14,351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,207

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,1003$2,2004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 7417 Gillon Drive Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 7310 Compass Point Drive Rowlett, TX 1
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 2002
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.76
    •  
  • 7202 Bickers Drive Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2007
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 7813 Killarney Lane Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2002
    property image
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
  • 7402 Dartmouth Drive Rowlett, TX 5
    • 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 1996
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Corey Chambers
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462252
Last Updated: 10/29/2020
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