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9306 Chimneywood Drive Rowlett, TX 75089

3 Beds 2 Baths 1,768 sqft Built 1992

INVESTimate

$259,000

List Price

$1,670

$1,503 - $1,837

Rent Est.

$286,195  ( +10.50%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1992
  • Price/Sqft : $146.49
  • 9 Days on Market
  • MLS # : 14415719
  • Updated Date : 08/24/2020 at 13:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,768 sqft
  • Baths : 2 full
Listing Agent

Michael Keegan Realty Llc

Listing Agent's Description

Sought after one story completely updated in Rockwall schools. The kitchen has glistening granite, double stainless steel ovens and microwave. Also plumbed for gas. The pantry is over-sized and walk in. Both of the bathrooms have been updated with granite and oil bronze fixtures, framed mirrors, tumbled marble highlights and the master has separate garden-jetted tub and frame-less glass shower. Huge walk-in closet. Two dining areas and the dining room and entry have hardwood floors. The well appointed living area is accented with a beautiful fireplace with gas logs. this home shows very well and has been -gently- lived in since it’s remodel.

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: Graham Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $122k299k

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

Neighborhood: Graham Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262155

* 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
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$956
Property Tax -$543
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$57

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.

$259,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.50%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,666

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5753$1,6704$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 9306 Chimneywood Drive Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.94
    •  
  • 9317 Shipman Street Rowlett, TX 1
    • 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
    •  
  • 9438 Willard Street Rowlett, TX 2
    • 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
    •  
  • 6117 Scenic Drive Rowlett, TX 4
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1983
    property image
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 7610 Colfax Drive Rowlett, TX 5
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1994
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
PROPERTY LISTING DETAILS
Michael Keegan
Michael Keegan Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415719
Last Updated: 08/24/2020
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