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1204 Wilshire Court Allen, TX 75002

5 Beds 3 Baths 2,869 sqft Built 1999

$398,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $138.72
  • 3 Days on Market
  • MLS # : 14473870
  • Updated Date : 11/27/2020 at 19:28
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,869 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

You will love this delightful 2 story traditional home! Open floor plan w~5 bedrooms, 2.1 baths, 2 dining, 3 liv, w~2 car garage.Home gives you 2,869 sqft.Inviting backyard oasis w~large pool and covered patio. Perfect for entertaining inside~out. Updated large gourmet kitchen w~granite~backsplash~white cabinets, Blk SS app.Family room inviting you to nestle near the wood burning FP. Master bed and 3 bedrm on 2nd lvl. Oversized Master w~large sitting area for nursery or 2nd office. 1 bedrm on 1st lvl used study.Kitchen plumbed w~elec and gas.2015 Roof.2019 H20.2019 Disposal.2020 DW,Microwave.2016 upstairs AC. All of this situated in convenient neighborhood w~outstanding schools, shopping, restaurants!

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

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
 

$358,200$437,800$398,000

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 -$1,468
Property Tax -$766
Property Insurance -$193
HOA -$38
Property Management Fees -$99
CASH FLOW
-$174

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.

$398,000

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$111,220

INVESTMENT

$111,220

Down Payment
$99,500
Rehab Estimate
$5,750
Closing Costs
$5,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,468

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,500
Loan Amount $298,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,481

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
Melanie Reneau
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 #: 14473870
Last Updated: 11/27/2020
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