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8214 Salzburg Drive Rowlett, TX 75089

4 Beds 3 Baths 2,778 sqft Built 2000

INVESTimate

$317,000

List Price

$2,300

$2,070 - $2,530

Rent Est.

$342,106  ( +7.92%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $114.11
  • 2 Days on Market
  • MLS # : 14415807
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,778 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mike Mazyck Realty

Listing Agent's Description

Your next home awaits!! This charming 2 story with large trees sits on a spacious corner lot in a nice neighborhood. Granite counters, large kitchen island, updated Master and powder bathrooms, modern fixtures, wood floors in living areas and spacious game room. Backyard enclosed with a sturdy board-on-board fence. Roof replaced June 2018. When it's hot, you can simply walk across the street to the community pool! Great location provides quick access to Hwy 66 and GB Tollway, shopping and the lake!

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: Lakewood Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lakewood Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$285,300$348,700$317,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

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$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,170
Property Tax -$759
Property Insurance -$188
HOA -$29
Property Management Fees -$99
CASH FLOW
$56

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.

$317,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.92%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,755

INVESTMENT

$89,755

Down Payment
$79,250
Rehab Estimate
$5,750
Closing Costs
$4,755

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,170

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,250
Loan Amount $237,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$20,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,299

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 8214 Salzburg Drive Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 7113 Lynn Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 1989
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 7202 Bickers Drive Rowlett, TX 2
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2007
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 3417 Chacon Creek Trail Celina, TX 4
    • 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 2019
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
  • 7402 Dartmouth Drive Rowlett, TX 5
    • 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 1996
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mike Mazyck
Mike Mazyck Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415807
Last Updated: 08/25/2020
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