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1519 Sandstone Drive Allen, TX 75002

4 Beds 3 Baths 2,619 sqft Built 2002

INVESTimate

$321,000

List Price

$2,150

$1,935 - $2,365

Rent Est.

$344,433  ( +7.30%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $122.57
  • 9 Days on Market
  • MLS # : 14414971
  • Updated Date : 08/18/2020 at 10:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,619 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Spacious home in the very desirable community of Lost Creek Ranch in Allen! This 4 bed, 2.5 bath home comes with large backyard with mature trees, study, game room up, large secondary bedrooms, and gorgeous view of the Lost Creek Ranch ponds! Kitchen boasts corian counters, ceramic tile floors, breakfast bar, and walk-in pantry. Private Master down with dual sinks, garden tub, separate shower, & two Walk-in closet. Minutes from Eagle Stadium & Allen Premium Outlet, Village at Allen & Fairview Town Center for tons of shopping & dining options. Lost Creek Ranch features a pvt community pool, jogging trl, four parks with playgrounds, & ponds w~fountains – all within walking distance.

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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: Lost Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Lost Creek Ranch

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
Marion Elementary School Primary Regular 792 48 10
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Marion Elementary School

  • Education Level: Primary
  • # of students: 792
  • # of teachers: 48
10
GreatSchools Rating

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
 

$288,900$353,100$321,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,184
Property Tax -$622
Property Insurance -$179
HOA -$34
Property Management Fees -$99
CASH FLOW
$32

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.

$321,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.30%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,815

INVESTMENT

$90,815

Down Payment
$80,250
Rehab Estimate
$5,750
Closing Costs
$4,815

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,184

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,250
Loan Amount $240,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$20,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,193

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1003$2,1504$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 1519 Sandstone Drive Allen, TX 4
    • 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.82
    •  
  • 1545 Crystal Pass Allen, TX 1
    • 4 beds 2 baths ∙ 2,537 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,537 Sqft ∙ Built 2004
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.81
    •  
  • 1435 Sleepy Hollow Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2004
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 1602 Harvest Glen Drive Allen, TX 3
    • 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2000
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 1587 Bradford Trace Drive Allen, TX 5
    • 4 beds 2 baths ∙ 2,509 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,509 Sqft ∙ Built 2003
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Sarah Brimmage Cave
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 #: 14414971
Last Updated: 08/18/2020
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