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9301 Shearer Street Rowlett, TX 75088

3 Beds 2 Baths 1,916 sqft Built 1984

$249,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $130.43
  • 2 Days on Market
  • MLS # : 14481827
  • Updated Date : 12/05/2020 at 14:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,916 sqft
  • Baths : 2 full
Listing Agent

Rendon Realty, Llc

Listing Agent's Description

Come see this beautiful brick home. Featuring an open concept kitchen with granite countertops, and stainless steel appliances. High ceilings through out the home. You can enjoy the wood burning fire place, with lots of space for entertaining. Conveniently located near restaurants and shopping, I-30 and George Bush Turnpike.

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: Highland Meadows North

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $111k249k

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

Neighborhood: Highland Meadows North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10891890

* 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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$922
Property Tax -$524
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
-$83

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.

$249,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,524

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,720

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6004$1,6495$1,750
$1,750
RENT COMPS ANALYSIS
  • 9301 Shearer Street Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 9021 Millwood Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1983
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 9225 Shearer Street Rowlett, TX 2
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1984
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 5709 Westfield Drive Rowlett, TX 4
    • 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 1979
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.93
    •  
  • 8902 Shipman Street Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1984
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
PROPERTY LISTING DETAILS
Sandra Ridge
Rendon Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481827
Last Updated: 12/05/2020
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