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1527 Summerfield Drive Allen, TX 75002

3 Beds 2 Baths 1,801 sqft Built 2002

$285,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $158.25
  • 4 Days on Market
  • MLS # : 14483377
  • Updated Date : 12/11/2020 at 17:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,801 sqft
  • Baths : 2 full
Listing Agent

Vivo Realty

Listing Agent's Description

****Multiple offer situation.. Final and best offer by Sunday the 13th by 3:00pm,,***Lovely D. R. Horton home with nice size rooms and updated appliances. Kitchen has recently replaced stainless steel appliances and Quartz countertops, large pantry and tile floors. Large Living room has fireplace and wood looking Low maintenance tile flooring. Secondary bedrooms are larger than most, Very large Master bedroom and bathroom with garden tub and separate shower. 8' board on board fence with super sized patio for all your entertainment needs.. Lots of work has been done on this house over the last couple of years. recently painted interior makes this move - in ready. Vacant and ready to close.

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: Parkside

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Parkside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11172213

* 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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,052
Property Tax -$549
Property Insurance -$131
HOA -$25
Property Management Fees -$99
CASH FLOW
-$105

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.

$285,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,148

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,828

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,7504$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1527 Summerfield Drive Allen, TX 3
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 1603 Balboa Lane Allen, TX 1
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2006
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 1610 Balboa Lane Allen, TX 2
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2005
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 1507 Balboa Lane Allen, TX 4
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2002
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 1610 Lake Travis Drive Allen, TX 5
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 2005
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Charles Eicke
Vivo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483377
Last Updated: 12/11/2020
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