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8310 Lake Bend Drive Rowlett, TX 75088

3 Beds 2 Baths 1,778 sqft Built 1989

INVESTimate

$254,900

List Price

$1,710

$1,539 - $1,881

Rent Est.

$280,645  ( +10.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $143.36
  • 6 Days on Market
  • MLS # : 14418552
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,778 sqft
  • Baths : 2 full
Listing Agent

The Drew Company

Listing Agent's Description

Beautiful updated 1-story home on quiet street that has been nicely maintained & cared for. Two large living areas. Extensive wood & ceramic tile flooring with no carpet. Many windows provide lots of natural light. Open floorplan with high smooth ceilings give an expansive feel. Large kitchen with abundant custom painted cabinetry, updated appliances, gas cooktop. Spacious family room with gas log fireplace. Big split private master suite. Updated bath with quartz countertop, seamless glass shower & hardware-fixtures. Nice size secondary bedrooms and updated guest bath with quartz top vanity. Big patio overlooks nice size private backyard with mature shade trees.

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: Lake Bend Estates

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k249k

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

Neighborhood: Lake Bend Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800Rent in $11261890

* 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
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$940
Property Tax -$610
Property Insurance -$130
Property Management Fees -$99
CASH FLOW
-$70

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$254,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,787

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,7104$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 8310 Lake Bend Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.96
    •  
  • 8409 Woodside Road Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1980
    property image
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 4617 Sunny Brook Drive Rowlett, TX 2
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1971
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 8905 Briarwood Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1985
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.02
    •  
  • 8210 Chesham Drive Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1980
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Andrew Montoya
The Drew Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418552
Last Updated: 08/22/2020
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