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9214 Westfield Drive Rowlett, TX 75088

3 Beds 2 Baths 1,450 sqft Built 1983

INVESTimate

$206,000

List Price

$1,410

$1,269 - $1,551

Rent Est.

$229,051  ( +11.19%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1983
  • Price/Sqft : $142.07
  • 9 Days on Market
  • MLS # : 14412085
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Updated lovely single story home just down the street from Cullins Elementary in Rockwall ISD! Fresh paint inside and out! Granite countertops, stainless appliances, engineered hardwood floors, updated tile in kitchen and baths. Large fenced yard. Rockwall County! Come tour this beautiful home today!

SEE MORE

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: 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
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
 

$185,400$226,600$206,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$760
Property Tax -$432
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
$8

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.

$206,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.19%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,340

INVESTMENT

$60,340

Down Payment
$51,500
Rehab Estimate
$5,750
Closing Costs
$3,090

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$760

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,500
Loan Amount $154,500
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$12,033

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,403

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,5003$1,5504$1,5505$1,575
$1,575
RENT COMPS ANALYSIS
  • 9214 Westfield Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.97
    •  
  • 9317 Shipman Street Rowlett, TX 2
    • 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1986
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 9217 Willowbrook Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1983
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 8901 Greentree Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1984
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 9438 Willard Street Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1986
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.99
    •  
PROPERTY LISTING DETAILS
Julie Ballantine
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14412085
Last Updated: 08/19/2020
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