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8822 Greenwood Trail Rowlett, TX 75088

3 Beds 3 Baths 2,357 sqft Built 1991

$319,900

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $135.72
  • 2 Days on Market
  • MLS # : 14468358
  • Updated Date : 11/21/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,357 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

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: 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
Cullins-lake Pointe Elementary School Primary Regular 764 52 5
J. W. Williams Middle School Middle Regular 814 41 8
Rockwall High School High Regular 2,323 134 8

Cullins-lake Pointe Elementary School

  • Education Level: Primary
  • # of students: 764
  • # of teachers: 52
5
GreatSchools Rating

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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,180
Property Tax -$671
Property Insurance -$163
Property Management Fees -$99
CASH FLOW
$27

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.

$319,900

PROJECTED PRICE

$2,140

PROJECTED RENT

0.67%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$19,616

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,909

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8504$2,0005$2,140
$2,140
RENT COMPS ANALYSIS
  • 8822 Greenwood Trail Rowlett, TX 5
    • 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.91
    •  
  • 8609 Kensington Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 2,282 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,282 Sqft ∙ Built 1980
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 8901 Clearlake Drive Rowlett, TX 2
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 1992
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 8713 Greenwood Trail Rowlett, TX 3
    • 4 beds 3 baths ∙ 2,341 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,341 Sqft ∙ Built 1990
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
  • 3204 Dalrock Road Rowlett, TX 4
    • 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 1977
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
PROPERTY LISTING DETAILS
Dee Evans
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468358
Last Updated: 11/21/2020
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