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1505 Bellnap Drive Allen, TX 75013

5 Beds 5 Baths 4,355 sqft Built 2007

$649,000

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $149.02
  • 4 Days on Market
  • MLS # : 14493644
  • Updated Date : 01/09/2021 at 14:57
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,355 sqft
  • Baths : 4 full , 1 half
Listing Agent

Allen Properties Online

Listing Agent's Description

BEST AND FINAL OFFERS BY SUNDAY JAN 10TH @ 5PM!!! Exceptional home in Allen ISD. Gourmet kitchen has gas cooktop, oversized granite island with extra storage & SS appliances. Breakfast opens to spacious family room with vaulted ceiling. Study, master, 2nd bedroom with private bath down. Large master suite has spa like bath, shower and separate jetted tub with huge closet. Large media, game room & 3 beds & 2 full baths UP. Storage, craft or exercise room hidden behind bookcase! Upgrades galore include beautiful crown molding, solid wrought iron doors, designer carpet on stairs & hand scraped wood floors throughout first floor. Room for pets in backyard and basketball in front! Easy access hike & bike trails.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Cumberland Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Cumberland Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263502

* 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
 

$584,100$713,900$649,000

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$2,254
Property Tax -$1,249
Property Insurance -$279
HOA -$50
Property Management Fees -$99
CASH FLOW
-$391

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.

$649,000

PROJECTED PRICE

$3,540

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,593

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,3003$3,5404$3,9005$3,950
$3,950
RENT COMPS ANALYSIS
  • 1505 Bellnap Drive Allen, TX 3
    • 5 beds 5 baths ∙ 4,355 Sqft ∙ Built 2007 5 beds 5 baths ∙ 4,355 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $0.81
    •  
  • 1505 Willingham Drive Allen, TX 1
    • 5 beds 4 baths ∙ 4,119 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,119 Sqft ∙ Built 2007
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.80
    •  
  • 1813 Port Isabel Drive Allen, TX 2
    • 5 beds 4 baths ∙ 4,205 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,205 Sqft ∙ Built 2005
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.78
    •  
  • 1601 Barclay Drive Allen, TX 4
    • 5 beds 5 baths ∙ 4,490 Sqft ∙ Built 2011 5 beds 5 baths ∙ 4,490 Sqft ∙ Built 2011
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $0.87
    •  
  • 1533 Jamison Drive Allen, TX 5
    • 4 beds 4 baths ∙ 4,672 Sqft ∙ Built 2016 4 beds 4 baths ∙ 4,672 Sqft ∙ Built 2016
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $0.85
    •  
PROPERTY LISTING DETAILS
Louise Master
Allen Properties Online
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493644
Last Updated: 01/09/2021
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