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9014 Westfield Drive Rowlett, TX 75088

3 Beds 2 Baths 1,450 sqft Built 1983

$215,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $148.28
  • 4 Days on Market
  • MLS # : 14522139
  • Updated Date : 02/26/2021 at 11:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Welcome home! This one has all the upgrades you have been looking for. It features wood flooring through out, new low E windows, 3 bedrooms, 2 full baths, inviting living room with vaulted ceilings and wood burning fire place. The eat in kitchen has granite counter tops and updated backsplash. Both bathrooms have been completely remodeled with modern touches. Walk outside and relax under your large covered patio, spacious grass backyard and storage shed. A MUST SEE! MULTIPLE OFFERS RECEIVED. HIGHEST AND BEST DUE SUNDAY 2-28 BY 6PM.

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: Highland Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $101k249k

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

Neighborhood: Highland Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10261890

* 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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$747
Property Tax -$467
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
$127

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.

$215,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$19,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,439

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5954$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 9014 Westfield Drive Rowlett, TX 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 8901 Linda Vista Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1983
    LEASED 12/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 9225 Grant Drive Rowlett, TX 3
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1985
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 8505 Woodside Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1980
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 8905 Westfield Drive Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1983
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Matthew Johns
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522139
Last Updated: 02/26/2021
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