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

1506 Terlingua Court Allen, TX 75013

4 Beds 3 Baths 3,284 sqft Built 1999

$499,900

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $152.22
  • 3 Days on Market
  • MLS # : 14526139
  • Updated Date : 03/12/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,284 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Here's what you're gonna love about this home. Mostly single story except for the massive game room upstairs with walk-in closet and its own full bathroom. Nearly half acre (.46) interior lot. 60 ft. 3 car drive way. Oversized 3 car garage. Great location with easy access to Exchange and right in the middle of HWY 121 or 75. Low traffic cul-de-sac location with creek across the street. Great open floor plan with so many options with office, what I call a Flex room because it's another room before you get to the bedrooms; possible extra TV room for kids or homeschool room, etc. Open floor plan with big living room. Kitchen has granite counter, island and stainless appliances. Beautiful master with rear access.

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: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263455

* 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
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,736
Property Tax -$962
Property Insurance -$217
HOA -$52
Property Management Fees -$99
CASH FLOW
-$357

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.

$499,900

PROJECTED PRICE

$2,710

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,832

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,6954$2,7105$3,200
$3,200
RENT COMPS ANALYSIS
  • 1506 Terlingua Court Allen, TX 4
    • 4 beds 3 baths ∙ 3,284 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,284 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.83
    •  
  • 1503 Terlingua Court Allen, TX 1
    • 4 beds 4 baths ∙ 3,214 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,214 Sqft ∙ Built 2000
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.81
    •  
  • 501 Halyard Drive Allen, TX 2
    • 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 1998
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.85
    •  
  • 1431 Constellation Drive Allen, TX 3
    • 5 beds 3 baths ∙ 3,187 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,187 Sqft ∙ Built 1998
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.85
    •  
  • 1495 Abby Way Allen, TX 5
    • 4 beds 3 baths ∙ 3,391 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,391 Sqft ∙ Built 2010
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.94
    •  
PROPERTY LISTING DETAILS
Michael Del Castillo
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 #: 14526139
Last Updated: 03/12/2021
BESbswy