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1115 Ferndale Drive Allen, TX 75013

4 Beds 4 Baths 2,924 sqft Built 2016

$469,999

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $160.74
  • 3 Days on Market
  • MLS # : 14519510
  • Updated Date : 02/20/2021 at 18:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,924 sqft
  • Baths : 4 full
Listing Agent

Citiwide Alliance Realty

Listing Agent's Description

Beautiful, Luxury and barely lived in 2924 sqft large home. Home offers 4 bedrooms, 4 baths, 3 car garage, 2nd floor master, 1st floor bedroom. This home has many upgrades, rich hardwood floors in 1st floor, Vaulted Ceilings, impressive floor plan, Sit-in area next to windows, Arched entryway, stainless steel appliances, granite countertops, 5 burner gas stove, lighting, dry bar, tile backsplash & butler pantry. 2nd floor Game room, Generous sized bedrooms, split vanities, walk-in closet. Off the living room is a sizable covered patio for relaxing with iron fence and gas line. Conveniently located to Watters Creek for shopping and dining. This one won’t last long. See Supplements for SD, Survey, Instructions.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$422,999$516,999$469,999

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,632
Property Tax -$907
Property Insurance -$196
HOA -$51
Property Management Fees -$99
CASH FLOW
-$306

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.

$469,999

PROJECTED PRICE

$2,580

PROJECTED RENT

0.55%

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-$10k-$5.0k$0.0$5.0k$10k

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$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,499
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,608

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,580

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5503$2,5804$2,6005$2,850
$2,850
RENT COMPS ANALYSIS
  • 1115 Ferndale Drive Allen, TX 3
    • 4 beds 4 baths ∙ 2,924 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,924 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.88
    •  
  • 505 Suncreek Drive Allen, TX 1
    • 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 1997
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 7609 Trevino Drive Plano, TX 2
    • 5 beds 3 baths ∙ 3,016 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,016 Sqft ∙ Built 1998
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.85
    •  
  • 1146 Amy Drive Allen, TX 4
    • 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2007
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.91
    •  
  • 506 Mefford Lane Allen, TX 5
    • 4 beds 4 baths ∙ 3,175 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,175 Sqft ∙ Built 2007
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.90
    •  
PROPERTY LISTING DETAILS
Rama Kothamasu
Citiwide Alliance Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519510
Last Updated: 02/20/2021
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