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1219 Rio Grande Drive Allen, TX 75013

4 Beds 4 Baths 4,550 sqft Built 2004

INVESTimate

$624,900

List Price

$3,560

$3,310 - $3,810

Rent Est.

$647,646  ( +3.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $137.34
  • 4 Days on Market
  • MLS # : 14413514
  • Updated Date : 08/24/2020 at 11:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,550 sqft
  • Baths : 4 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

**EXCEPTIONAL HOME IN SOUGHT-AFTER TWIN CREEKS** Highly desirable *FLOOR PLAN WITH OVER 4,500 SQ. FT.* Impressive curb appeal with stately brick & stone elevation! Don't wait to see this home! Large updated kitchen with white cabinets, butler pantry, WIP, granite, gas cooktop with pop up ventilation system, island and SS appliances. Two story family room with built-ins and stone FP. Formal study with built-ins & coffered ceilings. Formal DR & LR. Owners retreat is ready for its new owner! All can enjoy and relax in the theater room and game room with wet bar. Three bedrooms all with WICs. Two bedrooms have J&J bathroom. Back staircase brings you to kitchen. epoxied floored 3-car garaged. Newer BOB fence.

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: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263455

* 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
Boon Elementary School Primary Regular 770 47 10
Boon Elementary School Middle Regular 770 47 10
Lowery Freshman Center High Regular 1,571 104 8

Boon Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 47
10
GreatSchools Rating

Boon Elementary School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 47
10
GreatSchools Rating

Lowery Freshman Center

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

$562,410$687,390$624,900

PURCHASE PRICE

$3,204$3,916$3,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,560
EXPENSES Loan Payment -$2,306
Property Tax -$1,203
Property Insurance -$290
HOA -$48
Property Management Fees -$99
CASH FLOW
-$385

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.

$624,900

PROJECTED PRICE

$3,560

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.64%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,349

INVESTMENT

$171,349

Down Payment
$156,225
Rehab Estimate
$5,750
Closing Costs
$9,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,225
Loan Amount $468,675
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,661

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,560

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $3,822

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5603$3,6954$3,9005$4,200
$4,200
RENT COMPS ANALYSIS
  • 1219 Rio Grande Drive Allen, TX 2
    • 4 beds 4 baths ∙ 4,550 Sqft ∙ Built 2004 4 beds 4 baths ∙ 4,550 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,560
    • $0.78
    •  
  • 1533 Jamison Drive Allen, TX 1
    • 4 beds 4 baths ∙ 4,672 Sqft ∙ Built 2016 4 beds 4 baths ∙ 4,672 Sqft ∙ Built 2016
    property image
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.75
    •  
  • 1431 Cibolo Drive Allen, TX 3
    • 5 beds 4 baths ∙ 4,537 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,537 Sqft ∙ Built 2005
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $0.81
    •  
  • 975 Pembrook Lane Allen, TX 4
    • 5 beds 6 baths ∙ 4,398 Sqft ∙ Built 2013 5 beds 6 baths ∙ 4,398 Sqft ∙ Built 2013
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $0.89
    •  
  • 1533 Evanvale Drive Allen, TX 5
    • 5 beds 4 baths ∙ 4,611 Sqft ∙ Built 2008 5 beds 4 baths ∙ 4,611 Sqft ∙ Built 2008
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Brian S. Curry
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413514
Last Updated: 08/24/2020
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