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1421 Christine Allen, TX 75002

3 Beds 2 Baths 2,139 sqft Built 2000

$249,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $116.41
  • 2 Days on Market
  • MLS # : 14478231
  • Updated Date : 12/05/2020 at 12:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,139 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

NO SHOWINGS AFTER 1PM DECEMBER 5th! The property will be sold as is! We have multiple offers on the table and Highest and Best is due by 12pm or noon Sunday December 6th 2020. The sellers are asking for a close date of this year and a leaseback til May 1st. They will compensate the buyers then landlord during those 5 months.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Bethany Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Bethany Ridge Estates

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
Bolin Elementary School Primary Regular 631 41 9
Bolin Elementary School Middle Regular 631 41 9
Ford Middle School High Regular 877 55 9

Bolin Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 41
9
GreatSchools Rating

Bolin Elementary School

  • Education Level: Middle
  • # of students: 631
  • # of teachers: 41
9
GreatSchools Rating

Ford Middle School

  • Education Level: High
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$919
Property Tax -$529
Property Insurance -$151
HOA -$15
Property Management Fees -$99
CASH FLOW
$178

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.

$249,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$30,391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,914

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8503$1,8904$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1421 Christine Allen, TX 3
    • 3 beds 2 baths ∙ 2,139 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,139 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.88
    •  
  • 1408 Suzanne Drive Allen, TX 1
    • 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 1998
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.87
    •  
  • 745 Cheyenne Drive Allen, TX 2
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1999
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 1434 Yosemite Drive Allen, TX 4
    • 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1999
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 729 Yellowstone Drive Allen, TX 5
    • 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 2000
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Logan Naylor
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478231
Last Updated: 12/05/2020
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