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1054 Enchanted Rock Drive Allen, TX 75013

3 Beds 4 Baths 2,970 sqft Built 2014

$430,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $144.78
  • 3 Days on Market
  • MLS # : 14497371
  • Updated Date : 01/16/2021 at 09:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,970 sqft
  • Baths : 2 full , 2 half
Listing Agent

Firehouse Real Estate Services

Listing Agent's Description

Meticulously cared for home in desirable Allen ISD. Highly sought after layout with all bedrooms on first floor and large game room upstairs with half bath. Kitchen features white cabinets, granite counters, stainless steel appliances, butler pantry and walk-in pantry. Upgraded window coverings and added lighting throughout. Master suite includes oversized bathroom with separate shower, dual sinks, garden tub and walk-in closets. Large back yard with board on board fencing perfect for entertaining or quiet nights at home. Great community with multiple pools and is within walking distance to schools, parks and shopping.

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: Waterford Parks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Waterford Parks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263393

* 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
Cheatham Elementary School Primary Regular 678 44 NA
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Cheatham Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 44
NA
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
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,494
Property Tax -$828
Property Insurance -$199
HOA -$58
Property Management Fees -$99
CASH FLOW
-$197

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.

$430,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.4%
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-$5.0k$0.0$5.0k$10k$15k

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$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,185

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,532

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3953$2,4804$2,5455$2,600
$2,600
RENT COMPS ANALYSIS
  • 1054 Enchanted Rock Drive Allen, TX 3
    • 3 beds 4 baths ∙ 2,970 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,970 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.84
    •  
  • 1405 Kingsley Allen, TX 1
    • 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2002
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.83
    •  
  • 1318 Kenshire Court Allen, TX 2
    • 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 1999
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.84
    •  
  • 1031 Enchanted Rock Drive Allen, TX 4
    • 4 beds 3 baths ∙ 3,025 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,025 Sqft ∙ Built 2014
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,545
    • $0.84
    •  
  • 1011 Hot Springs Drive Allen, TX 5
    • 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2008
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kellie Klopf
Firehouse Real Estate Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497371
Last Updated: 01/16/2021
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