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8102 Spinnaker Cove Rowlett, TX 75089

3 Beds 3 Baths 1,797 sqft Built 1985

$259,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $144.63
  • 2 Days on Market
  • MLS # : 14467241
  • Updated Date : 11/07/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,797 sqft
  • Baths : 2 full , 1 half
Listing Agent

Listing Spark

Listing Agent's Description

Beautiful 2 story home located in a highly desirable Rowlett Subdivision. A corner lot home with 3 bedrooms and 2 and a half baths. Over $40k in upgrades. Beautiful new tile and laminate wood floors throughout the home. New carpet on a 2nd floor. Big Family room-living room and dinning room. Kitchen has all new granite countertops with an elegant back-splash, under-mount sink, new cabinets and stainless steel appliances. All bathrooms and bedrooms are completely remodeled including separate showers, new shower heads and faucets, new vanity and bathtubs. Fresh new paint with modern lighting fixtures(LED) and new hardware. This house has it all, come see it today!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Spinnaker Cove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $110k336k

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

Neighborhood: Spinnaker Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10862171

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$959
Property Tax -$622
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
-$121

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.

$259,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 12.7%
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

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,649
1$1,6492$1,6503$1,6504$1,6905$1,750
$1,750
RENT COMPS ANALYSIS
  • 8102 Spinnaker Cove Rowlett, TX 4
    • 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.94
    •  
  • 7613 Spinnaker Cove Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1986
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.00
    •  
  • 7801 Estates Way Rowlett, TX 2
    • 4 beds 2 baths ∙ 1,679 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,679 Sqft ∙ Built 1986
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 8209 Newport Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1993
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 8101 Courageous Drive Rowlett, TX 5
    • 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1985
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467241
Last Updated: 11/07/2020
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