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1012 Timbercreek Drive Allen, TX 75002

3 Beds 2 Baths 2,287 sqft Built 1992

$286,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $125.05
  • 5 Days on Market
  • MLS # : 14465211
  • Updated Date : 11/12/2020 at 20:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,287 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Allen-fairview-

Listing Agent's Description

SOLD-AS-IS with NEW Roof installed prior to closing. Welcome to this single story home located in a established neighborhood across from a park with NO HOA that is ready for you to call HOME! Rare floor plan with 2 living and dining areas, split bedrooms & open kitchen to the family area & breakfast nook. Home features a great flex room with closet for an office or as a 4th bedroom. Plantation shutters in the front of the home, 2' wood blinds, vaulted ceilings, bay window & the backyard features board on board fence with metal posts, and a covered patio that is great for entertaining. Don't miss out on the AMAZING OPPORTUNITY in Allen ISD!ESTATE PROPERTY and ESTATE SALE IN PROGRESS. Add't pictures coming soon.

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
 

$257,400$314,600$286,000

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 -$1,055
Property Tax -$571
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
$26

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.

$286,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.5%
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$12k

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$81,540

INVESTMENT

$81,540

Down Payment
$71,500
Rehab Estimate
$5,750
Closing Costs
$4,290

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,055

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,500
Loan Amount $214,500
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$17,951

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
  • $0.84

    LIST RENT PER SQFT
  • $1,944

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8754$1,9105$1,950
$1,950
RENT COMPS ANALYSIS
  • 1012 Timbercreek Drive Allen, TX 4
    • 3 beds 2 baths ∙ 2,287 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,287 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.84
    •  
  • 916 Green Brook Drive Allen, TX 1
    • 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1984
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 1003 Brookview Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 1986
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 915 Spring Brook Drive Allen, TX 3
    • 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 1985
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.83
    •  
  • 918 Rivercrest Boulevard Allen, TX 5
    • 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 1978
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jill Jackson
Ebby Halliday, Allen-fairview-
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465211
Last Updated: 11/12/2020
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