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7813 Creek Wood Drive Rowlett, TX 75089

4 Beds 2 Baths 1,684 sqft Built 1985

$245,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $145.49
  • 3 Days on Market
  • MLS # : 14477762
  • Updated Date : 11/27/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,684 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Realtors

Listing Agent's Description

Updated beautiful one story home located in Rowlett featuring 4 bedroom and 2 bath. It has a stunning open layout with stellar ceiling wood beams. The kitchen has charming custom cabinets, countertops, backsplash, and more. It has fresh paint throughout, new wood laminate floor has been installed in 3 of the bedrooms and pristine updated restrooms! Close to major highways, schools, restaurants and shopping centers. Great outdoor area with cover patio, and an outdoor kitchen to create memorable times with the family. It is a must see!

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: Dal Lake

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $94k336k

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

Neighborhood: Dal Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10062171

* 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$904
Property Tax -$587
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
-$104

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.

$245,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.66%

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-$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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6103$1,6204$1,6495$1,750
$1,750
RENT COMPS ANALYSIS
  • 7813 Creek Wood Drive Rowlett, TX 2
    • 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.96
    •  
  • 8206 Yacht Club Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1986
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 8317 Spinnaker Cove Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1995
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.07
    •  
  • 7613 Spinnaker Cove Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1986
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.00
    •  
  • 8101 Courageous Drive Rowlett, TX 5
    • 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1985
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Cesar Beza
Jp And Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477762
Last Updated: 11/27/2020
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