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1425 Woodmont Drive Allen, TX 75002

4 Beds 3 Baths 2,968 sqft Built 2000

$450,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $151.62
  • 3 Days on Market
  • MLS # : 14523738
  • Updated Date : 03/19/2021 at 15:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,968 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

This lovely two story 4 bedroom, 2.5 bath home has it all. Sitting on a corner lot this spacious home is ready for it's new owners to move in. Formal living and dining areas could also serve as home office. Downstairs family room boast a fireplace with gas logs. Large downstairs master suite features garden tub, separate shower, separate vanities and walk in closet. Three nice size secondary bedrooms upstairs share a full bath. Large gameroom for the entire family to enjoy. Nice backyard with covered patio makes a great spot for entertaining. Extra concrete pad attached to driveway for an extra parking space.

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: Parkside

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Parkside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11172213

* 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
Lowery Freshman Center High Regular 1,571 104 8
Allen High School High Unknown NA
Lowery Freshman Center High Unknown NA

Lowery Freshman Center

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

Allen High School

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

Lowery Freshman Center

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

$405,000$495,000$450,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,563
Property Tax -$866
Property Insurance -$199
Property Management Fees -$99
CASH FLOW
-$567

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.

$450,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.2%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$72

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,174

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0753$2,1604$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 1425 Woodmont Drive Allen, TX 3
    • 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.73
    •  
  • 1509 Appalachian Drive Allen, TX 1
    • 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2000
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 1311 Normandy Lane Allen, TX 2
    • 4 beds 5 baths ∙ 2,843 Sqft ∙ Built 1999 4 beds 5 baths ∙ 2,843 Sqft ∙ Built 1999
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.73
    •  
  • 1518 Warm Springs Drive Allen, TX 4
    • 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 2001
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.74
    •  
  • 1513 High Country Lane Allen, TX 5
    • 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 2001
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
PROPERTY LISTING DETAILS
Alan Robertson
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 #: 14523738
Last Updated: 03/19/2021
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