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1004 Brookview Drive Allen, TX 75002

3 Beds 2 Baths 1,999 sqft Built 1988

INVESTimate

$290,000

List Price

$1,800

$1,620 - $1,980

Rent Est.

$320,537  ( +10.53%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $145.07
  • 7 Days on Market
  • MLS # : 14417796
  • Updated Date : 08/22/2020 at 10:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,999 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Lovely home in established neighborhood surrounded by mature shade trees! Elegant formal living room with open ledges, crown molding, updated carpet in 2018 & see thru fireplace shared with family room. Kitchen is open to the family rm and features tile backsplash, tiled breakfast bar & water filter. Impressive brick FP w-paneled accent & vaulted ceiling. Relax in the sunroom located off kitchen w-yard views! Split primary bedroom has beamed vaulted ceiling & His & Hers vanity in the bath w-lrg WI closet. Both secondary bedrooms have WI closets & tile flooring in kitchen & baths was installed in 2018. Nice-sized yard w-room for play & storage building. Drapes-rods & Ring system stay-recent insulation in attic!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Fountain Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Fountain Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10782213

* 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
Reed Elementary School Primary Regular 612 40 7
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Reed Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 40
7
GreatSchools Rating

Curtis Middle School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 70
10
GreatSchools Rating

Lowery Freshman Center

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

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

PURCHASE PRICE

$1,620$1,980$1,800

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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,070
Property Tax -$558
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
-$70

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

$1,800

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.53%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,967

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1004 Brookview Drive Allen, TX 4
    • 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 302 Stone Creek Drive Allen, TX 1
    • 4 beds 2 baths ∙ 2,053 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,053 Sqft ∙ Built 1996
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 916 Green Brook Drive Allen, TX 2
    • 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1984
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 1015 Draycot Court Allen, TX 3
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1995
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 1003 Brookview Drive Allen, TX 5
    • 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 1986
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
PROPERTY LISTING DETAILS
Kelley Cann
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 #: 14417796
Last Updated: 08/22/2020
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