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1401 Fieldstone Drive Allen, TX 75002

5 Beds 4 Baths 3,908 sqft Built 1999

$460,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $117.71
  • 3 Days on Market
  • MLS # : 14492983
  • Updated Date : 01/01/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,908 sqft
  • Baths : 4 full
Listing Agent

William Davis Realty

Listing Agent's Description

Stunning David Weekly custom home in excellent Allen ISD location. Home is walking distance to schools, & Celebration Park. Biggest in neighborhood, and offers 3-car garage, & 5th bed-Office-Nursery-mother-in-law suite w-full bath. Kitchen boasts an Island C-top, Granite, double convection ovens, B-bar, & eat-in breakfast area! Masters has fireplace & sitting area, sep shower, jetted garden tub, dual sinks, & huge walk-in closet. Gameroom-1 bed-bath separate suite could become 2nd master upstairs. 3 attics including 1 walk-in. Oversized backyard, paver patio & newly built pergola. 10' BB fence w-sliding remote control driveway gate. New roof, 2 new 50ga hot water heaters, & 2 new Liftmaster MyQ G-door openers..

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Morningside

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Morningside

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
Anderson Elementary School Primary Regular 603 39 10
Anderson Elementary School Middle Regular 603 39 10
Lowery Freshman Center High Regular 1,571 104 8

Anderson Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 39
10
GreatSchools Rating

Anderson Elementary School

  • Education Level: Middle
  • # of students: 603
  • # of teachers: 39
10
GreatSchools Rating

Lowery Freshman Center

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

$414,000$506,000$460,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$1,697
Property Tax -$886
Property Insurance -$253
HOA -$33
Property Management Fees -$99
CASH FLOW
-$78

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.

$460,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.5%
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$1.2M$1.4M$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$18,832

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $3,126

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,745
1$2,7452$2,8003$2,8904$2,9005$3,500
$3,500
RENT COMPS ANALYSIS
  • 1401 Fieldstone Drive Allen, TX 3
    • 5 beds 4 baths ∙ 3,908 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,908 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $0.74
    •  
  • 1407 Settlers Court Allen, TX 1
    • 4 beds 4 baths ∙ 3,839 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,839 Sqft ∙ Built 2000
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,745
    • $0.72
    •  
  • 1313 Winecup Court Allen, TX 2
    • 5 beds 4 baths ∙ 3,568 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,568 Sqft ∙ Built 2005
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.78
    •  
  • 1001 Carlsbad Drive Allen, TX 4
    • 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2002
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.80
    •  
  • 1602 Country Bend Allen, TX 5
    • 5 beds 4 baths ∙ 3,901 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,901 Sqft ∙ Built 2002
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kristine Ogbolu
William Davis Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492983
Last Updated: 01/01/2021
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