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1204 Wilshire Court Allen, TX 75002

5 Beds 3 Baths 2,869 sqft Built 1999

$400,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $139.42
  • 5 Days on Market
  • MLS # : 14462088
  • Updated Date : 11/02/2020 at 13:47
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,869 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Don't miss out on this immaculately maintained home in the heart of Allen Step inside & you will fall in love with this spacious 4 beds, 2.1 bath and 2 car garage PLUS the study has a closet so it could be 5 BEDROOMS! This home offers an open floor plan, rich laminate floors, multiple dining areas, gas cooktop, and so much more! Entertain family and friends in your very own backyard oasis that boasts sparkling pool & covered patio! Upstairs there is a large gameroom or media room that is great for kids and families! Hot Water heater replaced in 2019 HVAC upstairs unit was replaced in 2016, Brand New SS appliances in the kitchen Roof was replaced in 2015. THIS HOME IS A MUST SEE!

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: Allen North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Allen North

NeighborhoodNIR 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
Olson Elementary School Primary Regular 781 51 10
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Olson Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 51
10
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
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,476
Property Tax -$770
Property Insurance -$193
HOA -$18
Property Management Fees -$99
CASH FLOW
-$166

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.

$400,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 11.8%
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$1.4M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$9,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,360

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,3503$2,3904$2,4505$2,650
$2,650
RENT COMPS ANALYSIS
  • 1204 Wilshire Court Allen, TX 3
    • 5 beds 3 baths ∙ 2,869 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,869 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.83
    •  
  • 1531 Pecan Creek Lane Allen, TX 1
    • 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.74
    •  
  • 1212 Aberdeen Drive Allen, TX 2
    • 5 beds 3 baths ∙ 2,856 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,856 Sqft ∙ Built 1998
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.82
    •  
  • 1317 Chardonnay Drive Allen, TX 4
    • 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2002
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.85
    •  
  • 1587 Sweetbriar Drive Allen, TX 5
    • 4 beds 3 baths ∙ 3,025 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,025 Sqft ∙ Built 2002
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kimberly Elmer
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462088
Last Updated: 11/02/2020
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