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1230 Edgewood Lane Allen, TX 75013

4 Beds 3 Baths 2,475 sqft Built 1987

$425,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $171.72
  • 2 Days on Market
  • MLS # : 14505004
  • Updated Date : 01/23/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,475 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Allen two-story cul-de-sac home offers granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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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: Raintree Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Raintree Estates

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
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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,476
Property Tax -$818
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
-$224

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.

$425,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 7.3%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

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
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$5,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,339

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2503$2,3404$2,5005$2,590
$2,590
RENT COMPS ANALYSIS
  • 1230 Edgewood Lane Allen, TX 3
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.95
    •  
  • 1221 Greenway Drive Allen, TX 1
    • 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1996
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 1309 Capstan Drive Allen, TX 2
    • 4 beds 2 baths ∙ 2,442 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,442 Sqft ∙ Built 1996
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.92
    •  
  • 1124 Belvedere Drive Allen, TX 4
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1995
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 1204 Bel Air Drive Allen, TX 5
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1994
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.98
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505004
Last Updated: 01/23/2021
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