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7511 Coronado Drive Rowlett, TX 75088

3 Beds 3 Baths 2,452 sqft Built 2020

INVESTimate

$411,900

List Price

$2,360

$2,124 - $2,596

Rent Est.

$441,886  ( +7.28%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $167.99
  • 8 Days on Market
  • MLS # : 14416484
  • Updated Date : 08/21/2020 at 12:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,452 sqft
  • Baths : 3 full
Listing Agent

Key Trek-cc

Listing Agent's Description

Bayside is a lakeside living community built by K. Hovnanian Homes on the shores of Lake Ray Hubbard in Rowlett. Stroll along the lake on scenic trails or watch a peaceful sunset on decorative benches. Bayside is convenient to a variety of shopping & dining with easy access to Lake Ray Hubbard for boating, fishing, sailing or kayaking. Community dog park! Charming one story design features a stylish kitchen. Home office. New construction. Smart Home features! $38,500 in upgrades! Owner’s luxury bath with tub & shower! Extra Suite with private bath. Bedroom 3 with hall bath. Covered patio! Brilliant smart home system, built in Alexa for lights, music, security, Ecobee™ Wifi thermostat, Ring doorbell, EchoDot.

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: Rowlett

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Rowlett

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262404

* 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
 

$370,710$453,090$411,900

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,520
Property Tax -$977
Property Insurance -$169
HOA -$187
Property Management Fees -$99
CASH FLOW
-$591

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$411,900

PROJECTED PRICE

$2,360

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.28%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,154

INVESTMENT

$111,154

Down Payment
$102,975
Rehab Estimate
$2,000
Closing Costs
$6,179

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,520

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,975
Loan Amount $308,925
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$19

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,387

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3603$2,5004$2,500
$2,500
RENT COMPS ANALYSIS
  • 7511 Coronado Drive Rowlett, TX 2
    • 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.96
    •  
  • 7210 Lynn Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2019
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 9213 Norwich Court Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2000
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 7707 Coronado Drive Rowlett, TX 4
    • 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2019
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Teri Walter
Key Trek-cc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416484
Last Updated: 08/21/2020
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