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7514 Harbor Drive Rowlett, TX 75088

3 Beds 3 Baths 2,117 sqft Built 2017

$315,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $148.80
  • 3 Days on Market
  • MLS # : 14504666
  • Updated Date : 01/22/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,117 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Castle Realty

Listing Agent's Description

Stunning custom built home on oversized corner lot! This spacious, open concept home features modern amenities + several design & technology upgrades. Beautiful kitchen with custom cabinetry, granite countertops, subway tile backsplash, energy efficient stainless steel appliances & gas cooktop. Home is equipped with two spacious living areas (one could be used as a home office), a cozy gas fireplace & 10’ ceilings throughout. The spa-like master suite features quartz countertops, dual sinks, garden tub, separate shower and oversized walk-in closet with extra storage area attached. Home is energy-star certified and equipped with surround sound wiring, pest control system, water pex system & security system.

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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,094
Property Tax -$754
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
-$27

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.

$315,000

PROJECTED PRICE

$2,070

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$1.2M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,016

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,969

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0703$2,1004$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 7514 Harbor Drive Rowlett, TX 2
    • 3 beds 3 baths ∙ 2,117 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,117 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.98
    •  
  • 4606 Clearlake Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1997
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 4702 Mariner Drive Rowlett, TX 3
    • 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2017
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 3514 Lake Highlands Drive Rowlett, TX 4
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1998
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 7210 Lynn Drive Rowlett, TX 5
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2019
    property image
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
PROPERTY LISTING DETAILS
Gary Bisha
My Castle Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504666
Last Updated: 01/22/2021
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