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1006 Stoneport Lane Allen, TX 75002

4 Beds 2 Baths 2,543 sqft Built 1994

$330,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $129.77
  • 3 Days on Market
  • MLS # : 14538010
  • Updated Date : 03/26/2021 at 10:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,543 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

Meticulously maintained on interior cul-de-sac street with no HOA in Shadow Lakes. Grand entry with custom designed wood floor, exquisite doorway openings and trim work, French doors, and a built-in for those special display things. Open concept living area, modern fireplace, a bar looking into the kitchen, it's perfect for entertaining. Kitchen has ample cabinet space, multiple prep areas, even a kneehole cabinet so you can easily multitask. Game room built-ins plus plenty of room for fun things.Spacious master suite opens into luxury bathroom with double vanity sinks, sit down vanity, garden tub, window shutters, and designer tile shower.Wonderfully crafted covered back patio large enough for outdoor seating.

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: Shadow Lakes North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Shadow Lakes North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10712213

* 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,146
Property Tax -$635
Property Insurance -$174
Property Management Fees -$99
CASH FLOW
-$85

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.

$330,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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-$6.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,984

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$1,9704$1,9995$2,150
$2,150
RENT COMPS ANALYSIS
  • 1006 Stoneport Lane Allen, TX 3
    • 4 beds 2 baths ∙ 2,543 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,543 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.77
    •  
  • 918 Spring Brook Drive Allen, TX 1
    • 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 1985
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 16 Monroe Court Allen, TX 2
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1995
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 1109 Brookview Allen, TX 4
    • 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 1990
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.77
    •  
  • 728 Bluebonnet Drive Allen, TX 5
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1997
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
PROPERTY LISTING DETAILS
Melissa Tidwell
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538010
Last Updated: 03/26/2021
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