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9410 Shearer Street Rowlett, TX 75088

3 Beds 2 Baths 1,895 sqft Built 1983

$269,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $142.43
  • 7 Days on Market
  • MLS # : 14510176
  • Updated Date : 02/05/2021 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,895 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Beautiful home located in well-established neighborhood in Rowlett. It is part of Rockwall ISD and just minutes from Lake Ray Hubbard. Home features 2 spacious living areas, 2 dining areas and 3 cozy bedrooms with walk-in closets. Home includes dual pane windows, granite counter tops, stainless steal appliances, beautifully varnished kitchen cabinets, wood burning fireplace, privacy fence, and much more! New HVAC system installed March 2019 with 5 year warranty, New roof in 2016, and foundation repaired in 2016. Great location! Walking distance to hospital and elementary. Easy commute to George Bush Tollway, I30, shopping and dining!

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 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
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$937
Property Tax -$566
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
-$39

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.

$269,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.63%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6003$1,7004$1,7505$1,895
$1,895
RENT COMPS ANALYSIS
  • 9410 Shearer Street Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 8706 Willowbrook Drive Rowlett, TX 1
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1983
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.93
    •  
  • 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
    •  
  • 8902 Shipman Street Rowlett, TX 4
    • 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
    •  
  • 5618 Luna Drive Rowlett, TX 5
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1995
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.92
    •  
PROPERTY LISTING DETAILS
Martha Castro
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510176
Last Updated: 02/05/2021
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