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1406 Greenwich Drive Allen, TX 75013

4 Beds 2 Baths 1,927 sqft Built 2003

$365,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $189.41
  • 3 Days on Market
  • MLS # : 14513089
  • Updated Date : 02/06/2021 at 00:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,927 sqft
  • Baths : 2 full
Listing Agent

Dfw Home

Listing Agent's Description

Walk in and be welcomed by designer stained concrete floors, open up to a spacious living with new Kronoswiss Laminate Wood Floor from Switzerland. Over $60K in energy saving ECO friendly upgrades: Pella window and life time warranty Andersen Windows, 2 speed HVAC 2017, Roof 2016 and new water heater. Drift off to sleep in the inviting master surrounded by Natural Linoleum floor tiles made of non-toxic Forbo Marmoleum, Earthing outlets, frameless shower. No VOC Clay paint in most rooms, balanced indoor humidity. Owner is an Architect & Building Biologist. Home is full of “Beyond Green” Natural Healthy Features & 10-year organic garden in BOB Fence. Close to 121 & 75, schools, park, Community Pool and shopping.

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: Glendover Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Glendover Park

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
Ereckson Middle School Middle Regular 1,156 69 9
Lowery Freshman Center High Regular 1,571 104 8
Ereckson Middle School Middle Unknown NA

Ereckson Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 69
9
GreatSchools Rating

Lowery Freshman Center

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

Ereckson Middle School

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

$328,500$401,500$365,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,268
Property Tax -$703
Property Insurance -$139
HOA -$28
Property Management Fees -$99
CASH FLOW
-$315

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.

$365,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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

PROJECTED ANNUAL CASH FLOW

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

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,004

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8503$1,9204$1,9955$2,150
$2,150
RENT COMPS ANALYSIS
  • 1406 Greenwich Drive Allen, TX 3
    • 4 beds 2 baths ∙ 1,927 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,927 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.00
    •  
  • 1427 Tudor Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2003
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.99
    •  
  • 1409 Tudor Drive Allen, TX 2
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 2002
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $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
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.06
    •  
  • 1334 Kingsley Drive Allen, TX 5
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.07
    •  
PROPERTY LISTING DETAILS
Isabel Liu
Dfw Home
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513089
Last Updated: 02/06/2021
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