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1521 Hidden Cove Court Allen, TX 75002

4 Beds 4 Baths 4,079 sqft Built 2001

$424,900

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $104.17
  • 3 Days on Market
  • MLS # : 14490957
  • Updated Date : 01/01/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,079 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Stunning red brick w classic black shutters boasts arched cut-outs & pass-thrus, wood floors, extensive mldg trim & decorator lighting & finishes in satin nickel, whites & grays! Enjoy stacked frmls, sweeping staircase & multiple living areas incl office & loft game rm. Binge watch in your own theatre-style media rm complete w viewing chairs, screen & projector. Towering art niche tops stacked-stone fplc in 2-story fmly rm. Kitchen is equipped w granite, white cabinetry & SS applcs incl gas cooktop. Split mstr is fashioned with central make-up vanity between dbl sinks, jet tub & separate frameless glass shwr. Walk-ins in bdrms. 2 16-seer HVAC units (2019). Patio lights embellish oversized patio in bkyd. No HOA

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: Bethany Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Bethany Ridge Estates

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
 

$382,410$467,390$424,900

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,568
Property Tax -$818
Property Insurance -$263
Property Management Fees -$99
CASH FLOW
-$287

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.

$424,900

PROJECTED PRICE

$2,460

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.6%
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$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$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $2,488

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4603$2,4954$2,595
$2,595
RENT COMPS ANALYSIS
  • 1521 Hidden Cove Court Allen, TX 2
    • 4 beds 4 baths ∙ 4,079 Sqft ∙ Built 2001 4 beds 4 baths ∙ 4,079 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.60
    •  
  • 1809 Lake Tawakoni Drive Allen, TX 1
    • 5 beds 3 baths ∙ 4,022 Sqft ∙ Built 2000 5 beds 3 baths ∙ 4,022 Sqft ∙ Built 2000
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.57
    •  
  • 1810 Lake Tawakoni Drive Allen, TX 3
    • 5 beds 4 baths ∙ 4,022 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,022 Sqft ∙ Built 2001
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.62
    •  
  • 816 Idlewood Drive Allen, TX 4
    • 4 beds 4 baths ∙ 4,079 Sqft ∙ Built 2001 4 beds 4 baths ∙ 4,079 Sqft ∙ Built 2001
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.64
    •  
PROPERTY LISTING DETAILS
Andre S Kocher
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490957
Last Updated: 01/01/2021
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