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1009 Rushmore Drive Allen, TX 75002

4 Beds 3 Baths 2,351 sqft Built 2003

$319,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $136.07
  • 3 Days on Market
  • MLS # : 14499639
  • Updated Date : 01/15/2021 at 17:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,351 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

Minute's drive to upscale shopping, dining, and entertainment venues at Stacy & 75 convenient to luxury retail. Within walking or biking distance to Curtis Middle School. Great open floor plan with eat-in kitchen overlooks living room highlighted by a gas fireplace & lots of natural light. Includes many updates: 6' Cedar Board on Board with a 12' covered Slide Gate drive and ground track, stainless appliances, HVAC, Water Heater; gorgeous Master Bedroom with seating area; Jetted tub with Separate Shower; Upstairs opens w Second Living Area or Game-Room.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Woodland Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k405k

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

Neighborhood: Woodland Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262326

* 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
Olson Elementary School Primary Regular 781 51 10
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Olson Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 51
10
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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,111
Property Tax -$616
Property Insurance -$163
HOA -$23
Property Management Fees -$99
CASH FLOW
-$52

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.

$319,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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-$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$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,081

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9603$2,0004$2,1005$2,390
$2,390
RENT COMPS ANALYSIS
  • 1009 Rushmore Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.83
    •  
  • 1519 Northaven Drive Allen, TX 1
    • 4 beds 2 baths ∙ 2,264 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,264 Sqft ∙ Built 2001
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 1540 Bradford Trace Drive Allen, TX 3
    • 4 beds 2 baths ∙ 2,355 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,355 Sqft ∙ Built 2003
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 1525 Sugar Bush Trail Allen, TX 4
    • 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2000
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 907 Pin Oak Lane Allen, TX 5
    • 3 beds 3 baths ∙ 2,450 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,450 Sqft ∙ Built 1992
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.98
    •  
PROPERTY LISTING DETAILS
Joe Williams
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499639
Last Updated: 01/15/2021
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