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1408 Tartan Drive Allen, TX 75013

4 Beds 3 Baths 2,832 sqft Built 2000

$329,900

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $116.49
  • 31 Days on Market
  • MLS # : 14450418
  • Updated Date : 11/04/2020 at 10:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,832 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Beautiful 4 bedroom 3 bath house with split floor plan in great neighborhood. Everything is all on one level with the exception of a large game room upstairs. Open kitchen with modern gas appliances and built in microwave. Master suite features huge walk-in closet, dual vanity sinks, and separate garden tub and shower. The back yard has a privacy fence, trees, lots of greenery, and thick grass. Walking distance to elementary school. Home is move-in ready! Ask us how to save thousands on this property!

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: 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
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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,217
Property Tax -$667
Property Insurance -$191
HOA -$28
Property Management Fees -$99
CASH FLOW
-$2

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.

$329,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.67%

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-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$17,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,393

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,2954$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1408 Tartan Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,832 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,832 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 1329 Kingsley Court Allen, TX 1
    • 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2001
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 1412 Scottsman Drive Allen, TX 3
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2003
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.87
    •  
  • 1405 Kingsley Allen, TX 4
    • 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2002
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.83
    •  
  • 1411 Salado Drive Allen, TX 5
    • 4 beds 4 baths ∙ 2,762 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,762 Sqft ∙ Built 1998
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Claudia Enriquez
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14450418
Last Updated: 11/04/2020
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