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7702 Salzburg Drive Rowlett, TX 75089

3 Beds 2 Baths 1,650 sqft Built 1986

$249,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $151.45
  • 5 Days on Market
  • MLS # : 14477116
  • Updated Date : 11/25/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Vivo Realty

Listing Agent's Description

You will fall in love with this completely updated home by Beenova Design & Restoration. The home features new designer lighting, new luxury waterproof vinyl, new windows, modern updated bathrooms, and an open-concept great for entertaining this upcoming Holiday Season! A beautiful kitchen accompanies this home along with new maplewood espresso-shaker cabinets, stainless steel appliances and vibrant granite countertops. Moreover, foundation was recently repaired & offers a transferable warranty. With Generous living spaces, a great office to work from home from, an 8-food cedar-wood privacy fence, and a great size patio, you'll enjoy a perfect setting for relaxing, entertaining & enjoying the new upcoming year!

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: Country Aire Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k336k

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

Neighborhood: Country Aire Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10692171

* 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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$922
Property Tax -$598
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
-$152

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.

$249,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,662

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6003$1,7454$1,8255$1,850
$1,850
RENT COMPS ANALYSIS
  • 7702 Salzburg Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.96
    •  
  • 7306 Ridgeview Drive Rowlett, TX 2
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1978
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 6713 Westover Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 2004
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.95
    •  
  • 7201 Alissa Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1983
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.02
    •  
  • 8109 Kensington Drive Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1983
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
PROPERTY LISTING DETAILS
Maximiliano Ramos-ahued
Vivo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477116
Last Updated: 11/25/2020
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