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1002 Ashby Drive Allen, TX 75002

4 Beds 2 Baths 1,885 sqft Built 1986

$290,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $153.85
  • 6 Days on Market
  • MLS # : 14521103
  • Updated Date : 02/27/2021 at 12:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,885 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

MULTIPLE OFFERS RECEIVED.Charming & well-maintained 4-2-2 one story in Allen's popular Cottonwood Bend subdivision! Many improvements and upgrades include granite counter tops, tile flooring in kitchen and bathroom, all windows replaced in 2020 with vinyl-double pane high efficiency with lifetime warranty, foundation repair with lifetime warranty, 2in blinds, security system in 2019, exterior painted 2018, sprinkler system w drip line & smart controller added in 2020, and so much more! Home is perfect for you and your family!

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: Cottonwood Bend

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Cottonwood Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10862213

* 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
Lowery Freshman Center High Regular 1,571 104 8
Allen High School High Unknown NA
Lowery Freshman Center High Unknown NA

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating

Allen High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,007
Property Tax -$558
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
$109

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$290,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$22,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,932

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9104$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 1002 Ashby Drive Allen, TX 3
    • 4 beds 2 baths ∙ 1,885 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,885 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.01
    •  
  • 708 Deep Well Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1986
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 1207 Brook Drive Allen, TX 2
    • 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1992
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 1109 Ashby Drive Allen, TX 4
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1988
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.04
    •  
  • 630 Lakewood Drive Allen, TX 5
    • 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 1992
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
PROPERTY LISTING DETAILS
Carol Smith
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521103
Last Updated: 02/27/2021
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