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1025 Zachary Way Allen, TX 75013

3 Beds 3 Baths 2,400 sqft Built 2019

$420,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $175.00
  • 4 Days on Market
  • MLS # : 14505473
  • Updated Date : 01/29/2021 at 13:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,400 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

Awesome 3 Bedrooms, 2.5 baths, 2 Car Garage with 2 Living Areas! Very Nice Meritage home in the Village at Twin Creeks! Very Open Concept with large island kitchen with breakfast bar overlooks breakfast area and family room. Granite Countertops! Plantation Shutters! Stainless Steel Appliances! Wood Floors! Walkin Pantry! Gas Stove! Wood Stairs with Wrought Iron Balusters! Sprinkler & Security Systems! Covered Patio with Gas for a Outside Grill! Large Master Bedroom has Private Bath with Double Sinks, Garden Tub & Seperate Glass Shower, Ceramic Tile Floor and Walkin Closet! HOA takes care of the yard maintenance!

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

Zip Code: 75013

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Zip Code: 75013

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Ereckson Middle School Middle Regular 1,156 69 9
Lowery Freshman Center High Regular 1,571 104 8
Ereckson Middle School Middle Unknown NA

Ereckson Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 69
9
GreatSchools Rating

Lowery Freshman Center

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

Ereckson Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,459
Property Tax -$809
Property Insurance -$166
HOA -$125
Property Management Fees -$99
CASH FLOW
-$517

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.

$420,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$80

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,376

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,1403$2,2504$2,3005$2,700
$2,700
RENT COMPS ANALYSIS
  • 1025 Zachary Way Allen, TX 2
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.89
    •  
  • 937 Panther Lane Allen, TX 1
    • 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2005
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.90
    •  
  • 812 Birdie Drive Allen, TX 3
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2017
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 954 Panther Lane Allen, TX 4
    • 3 beds 2 baths ∙ 2,301 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,301 Sqft ∙ Built 2006
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 1058 Margo Drive Allen, TX 5
    • 4 beds 4 baths ∙ 2,596 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,596 Sqft ∙ Built 2019
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.04
    •  
PROPERTY LISTING DETAILS
Michael Coburn
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 #: 14505473
Last Updated: 01/29/2021
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