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101 Worchester Lane Allen, TX 75002

4 Beds 2 Baths 2,054 sqft Built 1996

$295,999

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $144.11
  • 3 Days on Market
  • MLS # : 14466206
  • Updated Date : 11/08/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,054 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Welcome to this beautiful 4-bedroom, 2 bath home in Allen nestled on a quiet cul-de-sac lot next to greenbelt. Step inside to find a versatile floorplan with unique features including alcoves, tray and vaulted ceilings, ceiling fans and plantation shutters throughout. Enjoy the cozy family room with brick fireplace open to kitchen and breakfast room with views of the backyard. Generous Master suite featuring garden tub, double sink vanity and separate shower. Peaceful backyard perfect for family BBQs and entertaining friends with flagstone, decorative rocks and lots of outdoor living, dining and fire pit areas. Automatic iron fence in driveway, fenced backyard and rear double car garage.

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: 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
Story Elementary School Primary Regular 533 37 9
Ford Middle School Middle Regular 877 55 9
Ford Middle School High Regular 877 55 9

Story Elementary School

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 37
9
GreatSchools Rating

Ford Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating

Ford Middle School

  • Education Level: High
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating
 

$266,399$325,599$295,999

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,092
Property Tax -$570
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
-$27

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.

$295,999

PROJECTED PRICE

$1,880

PROJECTED RENT

0.64%

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-$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$84,190

INVESTMENT

$84,190

Down Payment
$74,000
Rehab Estimate
$5,750
Closing Costs
$4,440

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,092

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,000
Loan Amount $221,999
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8804$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 101 Worchester Lane Allen, TX 3
    • 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.92
    •  
  • 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
    •  
  • 1015 Draycot Court Allen, TX 2
    • 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
    •  
  • 316 Droinwich Circle Allen, TX 4
    • 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 1995
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 1005 Blackenhurst Lane Allen, TX 5
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Lyne Stephens
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 #: 14466206
Last Updated: 11/08/2020
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