Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8717 Greenwood Trail Rowlett, TX 75088

3 Beds 3 Baths 2,046 sqft Built 1992

$300,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $146.63
  • 4 Days on Market
  • MLS # : 14535039
  • Updated Date : 03/25/2021 at 06:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,046 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

ROCKWALL ISD near LAKE RAY HUBBARD at an affordable price!! This elegant home has numerous upgrades including new AC unit (2020), covered pergola, French drains, fresh exterior paint, and smart home features (Ecobee thermostats, smart garage door opener, Rachio smart irrigation system controller). Desirable schools! Fantastic dining, entertainment, and shopping are minutes away at The Harbor Rockwall and Historic Downtown Rockwall, the Free Live Music Capital of North Texas. Recreational activities abound on Lake Ray Hubbard, including boating, fishing, kyaking, and sailing! DART Blue Line at Rowlett Park and Ride is just ten minutes away. Make this lovely home yours, and enjoy a staycation all year long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Lakeshore Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lakeshore Park Estates

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
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

J. W. Williams Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 41
8
GreatSchools Rating

Rockwall High School

  • Education Level: High
  • # of students: 2,323
  • # of teachers: 134
8
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,042
Property Tax -$629
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$145

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.

$300,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.5%
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-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,811

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,8953$1,8954$1,8955$2,100
$2,100
RENT COMPS ANALYSIS
  • 8717 Greenwood Trail Rowlett, TX 1
    • 3 beds 3 baths ∙ 2,046 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,046 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.87
    •  
  • 9209 Woodlake Drive Rowlett, TX 2
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 1998
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
  • 4606 Clearlake Drive Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1997
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 9018 Clearlake Drive Rowlett, TX 4
    • 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 1993
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 3514 Lake Highlands Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1998
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Elizabeth Lintel
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535039
Last Updated: 03/25/2021
BESbswy