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1515 Oak Tree Road Allen, TX 75002

3 Beds 2 Baths 1,242 sqft Built 1995

$272,800

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $219.65
  • 7 Days on Market
  • MLS # : 14533630
  • Updated Date : 03/25/2021 at 21:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,242 sqft
  • Baths : 2 full
Listing Agent

Pinnacle Realty Advisors

Listing Agent's Description

You will enjoy raising your family in this cozy 3 bedroom, 2 bath home nestled in Allen (Allen ISD). Walk to the nearby Celebration Park where your kids can play and you can enjoy the great Texas weather!! Snuggle up to the gas fireplace and emerge yourself in a good book while sipping hot chocolate. The seller completed several beautiful updates to the kitchen and bathrooms, including NEW Stainless Steel appliances and FRESH NEW paint. The roof was replaced in 2019 and is in excellent condition, and also put in a NEW HVAC in 2017 and a NEW Hot Water heater in 2020. Make this your home today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Oak Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Oak Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9982213

* 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
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8
Curtis Middle School Middle Unknown NA

Curtis Middle School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 70
10
GreatSchools Rating

Lowery Freshman Center

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

Curtis Middle School

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

$245,520$300,080$272,800

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$948
Property Tax -$578
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
-$203

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.

$272,800

PROJECTED PRICE

$1,520

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,042

INVESTMENT

$78,042

Down Payment
$68,200
Rehab Estimate
$5,750
Closing Costs
$4,092

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$948

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,200
Loan Amount $204,600
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,711

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,435

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5953$1,6254$1,6305$1,650
$1,650
RENT COMPS ANALYSIS
  • 1515 Oak Tree Road Allen, TX 1
    • 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.22
    •  
  • 1011 Shumard Street Allen, TX 2
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1996
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.19
    •  
  • 1100 Sandy Trail Drive Allen, TX 3
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1979
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.14
    •  
  • 1309 Timbercreek Court Allen, TX 4
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1981
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.14
    •  
  • 1108 Shumard Street Allen, TX 5
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.15
    •  
PROPERTY LISTING DETAILS
Troy Copeland
Pinnacle Realty Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533630
Last Updated: 03/25/2021
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