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1061 Miller Road Allen, TX 75013

4 Beds 6 Baths 4,183 sqft Built 2020

$703,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $168.06
  • 4 Days on Market
  • MLS # : 14495937
  • Updated Date : 01/07/2021 at 15:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,183 sqft
  • Baths : 4 full , 2 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14495937 - Built by Ashton Woods Homes - May completion! ~ Gorgeous New Ashton Woods home just minutes from US-75, 11 miles to Legacy West & within walking distance to Shops at Watters Creek. Elegant brick & natural stone facade. Double-volume foyer & family room. Family room features vaulted ceiling & fireplace with tile surround. Gourmet kitchen finishes include Quartz counter tops, painted cabinetry. Whirlpool appliances & spacious bar top island. Master suite complete with dual vanities, soaker tub & shower. Door from utility room to Master closet. Study, media room & 3 secondary bedrooms upstairs. 1st-floor office & additional bedroom downstairs. 3-car garage!!

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

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
Norton Elementary School Primary Regular 573 39 10
Norton Elementary School Middle Regular 573 39 10
Lowery Freshman Center High Regular 1,571 104 8

Norton Elementary School

  • Education Level: Primary
  • # of students: 573
  • # of teachers: 39
10
GreatSchools Rating

Norton Elementary School

  • Education Level: Middle
  • # of students: 573
  • # of teachers: 39
10
GreatSchools Rating

Lowery Freshman Center

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

$632,700$773,300$703,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$2,442
Property Tax -$1,353
Property Insurance -$269
HOA -$51
Property Management Fees -$99
CASH FLOW
-$1,104

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$703,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.44%

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) 3.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,295

INVESTMENT

$188,295

Down Payment
$175,750
Rehab Estimate
$2,000
Closing Costs
$10,545

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,442

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,750
Loan Amount $527,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$52

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $3,137

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9903$3,110
$3,110
RENT COMPS ANALYSIS
  • 1061 Miller Road Allen, TX 3
    • 4 beds 6 baths ∙ 4,183 Sqft ∙ Built 2020 4 beds 6 baths ∙ 4,183 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $0.74
    •  
  • 3636 Curbstone Way Plano, TX 1
    • 5 beds 4 baths ∙ 3,857 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,857 Sqft ∙ Built 2012
    property image
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.74
    •  
  • 6529 Abrams Drive Plano, TX 2
    • 5 beds 4 baths ∙ 3,937 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,937 Sqft ∙ Built 2010
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $0.76
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495937
Last Updated: 01/07/2021
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