Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1317 Flameleaf Drive Allen, TX 75002

3 Beds 2 Baths 1,454 sqft Built 1985

INVESTimate

$259,900

List Price

$1,590

$1,431 - $1,749

Rent Est.

$287,761  ( +10.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $178.75
  • 8 Days on Market
  • MLS # : 14416042
  • Updated Date : 08/23/2020 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,454 sqft
  • Baths : 2 full
Listing Agent

Weichert, Realtors Suburban

Listing Agent's Description

Opportunity is knocking for you to make this starter home yours. Located in the Bethany Lakes area of Allen, you are minutes from 75, 121 and The Allen Events Center. This home features 3 bedrooms, 2 full baths, master with a walk in closet, fire place, patio and more. The kitchen comes with the refrigerator and features ceramic tile that runs into dinning, hallway and bathroom areas, while the living area and bedrooms are traditional hardwood. Outside you will find a generous size backyard with plenty of room for kids and fur babies alike as well as a large maple tree giving shade to the front.

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: Greengate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $112k372k

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

Neighborhood: Greengate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9032213

* 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
Story Elementary School Primary Regular 533 37 9
Ford Middle School Middle Regular 877 55 9
Ford Middle School High Regular 877 55 9

Story Elementary School

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 37
9
GreatSchools Rating

Ford Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating

Ford Middle School

  • Education Level: High
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$959
Property Tax -$500
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
-$79

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.

$259,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.72%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,902

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5903$1,5954$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 1317 Flameleaf Drive Allen, TX 2
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.09
    •  
  • 1524 Mayflower Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1986
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 1410 Flameleaf Drive Allen, TX 3
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1985
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
  • 1408 Flameleaf Drive Allen, TX 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1985
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
  • 1415 Flameleaf Drive Allen, TX 5
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1985
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.11
    •  
PROPERTY LISTING DETAILS
Rebecca Mason
Weichert, Realtors Suburban
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416042
Last Updated: 08/23/2020
BESbswy