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1427 Tartan Drive Allen, TX 75013

4 Beds 2 Baths 2,453 sqft Built 1999

$375,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $152.87
  • 3 Days on Market
  • MLS # : 14514695
  • Updated Date : 02/12/2021 at 23:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,453 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. BEST AND FINAL DUE SATURDAY 2-13 at 9 PM. Updated move-in-ready home with open concept perfect for entertaining. Beautiful home with wood floors, neutral paints, plantation shutters and gorgeous crown molding. Located in Allen's Glendover Park. One block walk to Kerr Elementary and the amazing park. Gas cooktop, wine fridge and oversized pantry and laundry room. HVAC replaced 2019; Dishwasher 2018; All carpet and wood in hallway 2017.

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
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,303
Property Tax -$722
Property Insurance -$169
HOA -$28
Property Management Fees -$99
CASH FLOW
-$210

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.

$375,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.56%

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$8.0k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,341

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,245

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1103$2,2004$2,2955$2,400
$2,400
RENT COMPS ANALYSIS
  • 1427 Tartan Drive Allen, TX 2
    • 4 beds 2 baths ∙ 2,453 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,453 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.86
    •  
  • 1413 Macrae Court Allen, TX 1
    • 4 beds 2 baths ∙ 2,266 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,266 Sqft ∙ Built 1999
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.90
    •  
  • 1424 Scottsman Drive Allen, TX 3
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2006
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 1412 Scottsman Drive Allen, TX 4
    • 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
    •  
  • 1425 Cherokee Court Allen, TX 5
    • 3 beds 3 baths ∙ 2,584 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,584 Sqft ∙ Built 1998
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
PROPERTY LISTING DETAILS
Karen Lanman
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514695
Last Updated: 02/12/2021
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