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1308 Cedar Springs Drive Allen, TX 75002

3 Beds 2 Baths 2,111 sqft Built 2004

$317,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $150.17
  • 4 Days on Market
  • MLS # : 14520164
  • Updated Date : 02/27/2021 at 11:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,111 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

Come check out this great 1.5 story home in Lost Creek Ranch. The amenities include a community pool, parks and playgrounds. This home features a huge upstairs game room with large closet. Beautiful Hardwood Floors throughout the living area. The many upgrades consist of a new roof in 2019, water heater in 2017 and a new HVAC in 2015. The Interior has been completely repainted after the sellers moved out. Come find yourself in a great neighborhood in the desirable Allen School District. Multiple offers Best and final by 4pm Sunday 2-28-2021

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: Lost Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Lost Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262213

* 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
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8
Curtis Middle School Middle Unknown NA

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

Curtis Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$285,300$348,700$317,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,101
Property Tax -$610
Property Insurance -$149
HOA -$42
Property Management Fees -$99
CASH FLOW
$9

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.

$317,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,755

INVESTMENT

$89,755

Down Payment
$79,250
Rehab Estimate
$5,750
Closing Costs
$4,755

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,101

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,250
Loan Amount $237,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$14,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,000

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8953$1,9004$1,9505$2,010
$2,010
RENT COMPS ANALYSIS
  • 1308 Cedar Springs Drive Allen, TX 5
    • 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.95
    •  
  • 1307 Cedar Springs Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2004
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 1425 Silver Spur Drive Allen, TX 2
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2004
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 1304 Hansberry Drive Allen, TX 3
    • 3 beds 2 baths ∙ 1,969 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,969 Sqft ∙ Built 2003
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 1528 Silver Spur Drive Allen, TX 4
    • 3 beds 2 baths ∙ 1,969 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,969 Sqft ∙ Built 2003
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
PROPERTY LISTING DETAILS
Michael Meredith
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520164
Last Updated: 02/27/2021
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