Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1503 Brook Ridge Avenue Allen, TX 75002

3 Beds 2 Baths 1,859 sqft Built 2002

$312,500

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $168.10
  • 3 Days on Market
  • MLS # : 14466219
  • Updated Date : 11/06/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Charming one story across from fabulous tree lined hike and bike trail! Perfect dreamy home with great layout. Study with french doors looks out over trail across the street, fabulous open layout features large living space with great natural lighting open to beautiful kitchen with 42 inch cabinets&great counter top&storage space (refrigerator included). Large master with great closet space, nice sized secondary bedrooms. Separate laundry and rear entry garage.Lovely yard and nice sized patio offer great outdoor space. Hop on the trail across the street and stroll for miles as this trail connects to others - walking distance to great Allen park.This one is a WINNER!

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: Brookside

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Brookside

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
 

$281,250$343,750$312,500

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,153
Property Tax -$602
Property Insurance -$135
HOA -$33
Property Management Fees -$99
CASH FLOW
-$121

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.

$312,500

PROJECTED PRICE

$1,900

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$88,563

INVESTMENT

$88,563

Down Payment
$78,125
Rehab Estimate
$5,750
Closing Costs
$4,688

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,153

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,125
Loan Amount $234,375
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$8,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9004$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 1503 Brook Ridge Avenue Allen, TX 3
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.02
    •  
  • 1219 Aylesbury Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1996
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 1509 Oak Hollow Drive Allen, TX 2
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2003
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 1405 Hickory Bend Drive Allen, TX 4
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2000
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 1513 Brook Ridge Avenue Allen, TX 5
    • 4 beds 2 baths ∙ 1,915 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,915 Sqft ∙ Built 2002
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
PROPERTY LISTING DETAILS
Laura Robertson
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466219
Last Updated: 11/06/2020
BESbswy