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1318 Snowberry Drive Allen, TX 75013

3 Beds 2 Baths 1,713 sqft Built 2006

$289,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $168.71
  • 6 Days on Market
  • MLS # : 14462217
  • Updated Date : 11/02/2020 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,713 sqft
  • Baths : 2 full
Listing Agent

David Ross

Listing Agent's Description

MULTIPLE OFFERS IN ONE DAY! Zero-lot garden homes in northwest Allen [between Plano and McKinney] .This cozy cottage is move-in ready, one-story, wrought-iron fenced and gated for security including side garden patio & sitting area in addition to small but sunny back yard. A spacious over-sized, hi-ceiling living room welcomes upon entering. Open kitchen with all the space you need plus breakfast bar for convenient buffet entertaining. Gas appliances. Laundry room. Electric garage door.Over-sized master bedroom near kitchen, 2 other bedrooms & bath on other side of home. UPDATES IN 2020: roof, gutters, down spouts, stained fence, storage rack in garage. All these homes in Avondale neighborhood are beautiful!

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: Avondale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Avondale

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
Kerr Elementary School Primary Regular 700 43 10
Kerr Elementary School Middle Regular 700 43 10
Lowery Freshman Center High Regular 1,571 104 8

Kerr Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 43
10
GreatSchools Rating

Kerr Elementary School

  • Education Level: Middle
  • # of students: 700
  • # of teachers: 43
10
GreatSchools Rating

Lowery Freshman Center

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

$260,100$317,900$289,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,066
Property Tax -$556
Property Insurance -$126
HOA -$60
Property Management Fees -$99
CASH FLOW
-$98

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.

$289,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 8.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$8,067

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,807

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$1,8503$1,9654$1,9955$2,095
$2,095
RENT COMPS ANALYSIS
  • 1318 Snowberry Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.06
    •  
  • 1409 Tudor Drive Allen, TX 2
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 2002
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 1439 Snowberry Allen, TX 3
    • 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2007
    property image
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $1.04
    •  
  • 1427 Snowberry Drive Allen, TX 4
    • 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2006
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.06
    •  
  • 1068 Emil Place Allen, TX 5
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2018
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.08
    •  
PROPERTY LISTING DETAILS
David Ross
David Ross
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462217
Last Updated: 11/02/2020
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