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1524 Alamosa Drive Plano, TX 75023

4 Beds 3 Baths 2,268 sqft Built 1990

$365,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $160.93
  • 4 Days on Market
  • MLS # : 14465806
  • Updated Date : 11/06/2020 at 16:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,268 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Wonderfully updated 4BR, 2.5 BA beauty with the perfect location, amenities & upgrades in sought after Plano ISD! The gourmet kitchen with deep farmers sink, island & freshly painted cabinets is perfect for preparing a weekday meal or a feast during holidays! Homeschooling or working from home? No problem! The large home office has plenty of room for multiple workstations & even the Master has a workspace! Hardwood, marble & slate through main living areas & bathrooms really finish this home nicely. If that's not enough, step into the backyard oasis featuring an in-ground gunite pool with a heater & a cooler for those hot summer days, a deck, and an electric wooden gate so you can utilize the entire back space!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Harvestwood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k370k

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

Neighborhood: Harvestwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262224

* 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
Thomas Elementary School Primary Regular 617 53 3
Carpenter Middle School Middle Regular 722 58 5
Plano Senior High School High Regular 2,766 155 9

Thomas Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 53
3
GreatSchools Rating

Carpenter Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 58
5
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,347
Property Tax -$621
Property Insurance -$158
Property Management Fees -$99
CASH FLOW
-$245

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.

$365,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,956

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9804$2,0505$2,150
$2,150
RENT COMPS ANALYSIS
  • 1524 Alamosa Drive Plano, TX 3
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.87
    •  
  • 6729 Laramie Drive Plano, TX 1
    • 3 beds 3 baths ∙ 2,327 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,327 Sqft ∙ Built 1991
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
  • 6813 Banyon Drive Plano, TX 2
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 1992
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 6768 Burr Oak Drive Plano, TX 4
    • 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1993
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.87
    •  
  • 1424 Sandlewood Drive Plano, TX 5
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1995
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
PROPERTY LISTING DETAILS
Mila Yakhnis
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465806
Last Updated: 11/06/2020
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