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7417 Silverthorn Drive Rowlett, TX 75089

3 Beds 2 Baths 2,194 sqft Built 1994

$295,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $134.46
  • 3 Days on Market
  • MLS # : 14528788
  • Updated Date : 03/19/2021 at 15:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,194 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Spacious 3 bd, 2 bth, 1-story home is move-in ready, full of charm, & boast a huge, fenced backyard! Plenty of room for a pool & more! The main living rm has high ceilings, custom bookshelves-cabinets, a cozy fireplace, & a wall of arched windows overlooking the backyard! Lots of windows provide tons of natural light & rich, wood flooring add to the warmth of the home. The kitchen is open to the living rm & has lots of cabinets & counter space, an island with a gas range, & a separate breakfast nook. Owners retreat is split from the other 2 bedrooms for privacy & has a large ensuite bathroom with separate vanities, a jetted tub & a separate shower. Enjoy the outdoors year-round from the covered patio.

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: Bayview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k312k

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

Neighborhood: Bayview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262304

* 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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,025
Property Tax -$618
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
-$26

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.

$295,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$10,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8353$1,8704$1,8955$2,095
$2,095
RENT COMPS ANALYSIS
  • 7417 Silverthorn Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.85
    •  
  • 8009 Courageous Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1985
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 9317 Pollard Street Rowlett, TX 2
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1985
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.86
    •  
  • 8005 Wilmington Drive Rowlett, TX 4
    • 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2003
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 7005 Graham Drive Rowlett, TX 5
    • 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 1993
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.88
    •  
PROPERTY LISTING DETAILS
Crystal Zschirnt
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528788
Last Updated: 03/19/2021
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