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9425 Shearer Street Rowlett, TX 75088

3 Beds 2 Baths 1,892 sqft Built 1984

$270,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $142.71
  • 4 Days on Market
  • MLS # : 14514898
  • Updated Date : 02/20/2021 at 20:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,892 sqft
  • Baths : 2 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Gorgeous Rowlett Oasis! 1 story 3-2-2 with 2 living spaces and pool spa. Lots of entertaining space poolside and grassy yard with shade as well. Split bedrooms and large master. 2nd living area is a great media area and could also be a gameroom. Rockwall ISD, close to the hospital and close to Lake Ray Hubbard. Carport and 12x10 shed outdoors for extra storage. Easy access to PGB and I-30 and super quiet neighborhood.

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
 

$243,000$297,000$270,000

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 -$938
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.

$270,000

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,140

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
  • $1,703

    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
  • 9425 Shearer Street Rowlett, TX 3
    • 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 1984
    • 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
Jeremy Simmons
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514898
Last Updated: 02/20/2021
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