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1406 Spring Street Allen, TX 75002

3 Beds 2 Baths 1,347 sqft Built 1986

$235,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $174.46
  • 3 Days on Market
  • MLS # : 14486902
  • Updated Date : 12/18/2020 at 16:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,347 sqft
  • Baths : 2 full
Listing Agent

C21 Fine Homes Judge Fite

Listing Agent's Description

Coveted 1 story home in Cottonwood Bend located 2 streets away from Cottonwood Bend Park. Featuring 3 Bedrooms 2 Bathrooms and a beautiful engineered floors throughout the living area and bedrooms. Master bath has a large spa like shower soaking tub double vanity and a walking closet. Interior has been freshly painted in neutral color. Updated blinds are to be installed before moving-in. Jogging paths , parks, and outdoor activities are close by This will not last!!!

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: Cottonwood Bend

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Cottonwood Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10862213

* 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
Vaughan Elementary School Primary Regular 508 35 9
Ford Middle School Middle Regular 877 55 9
Ford Middle School High Regular 877 55 9

Vaughan Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 35
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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$867
Property Tax -$432
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
$117

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.

$235,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$25,195

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5753$1,6204$1,6505$1,699
$1,699
RENT COMPS ANALYSIS
  • 1406 Spring Street Allen, TX 3
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.20
    •  
  • 562 Hanover Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1977
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.17
    •  
  • 649 Spring Valley Road Allen, TX 2
    • 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 1986
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.19
    •  
  • 638 Albrook Allen, TX 4
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1993
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.22
    •  
  • 653 Spring Valley Road Allen, TX 5
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1986
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.21
    •  
PROPERTY LISTING DETAILS
Fernando Aguilera
C21 Fine Homes Judge Fite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486902
Last Updated: 12/18/2020
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