Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1528 Summerfield Drive Allen, TX 75002

4 Beds 3 Baths 2,569 sqft Built 2002

$365,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $142.08
  • 2 Days on Market
  • MLS # : 14466992
  • Updated Date : 11/07/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,569 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Gorgeous updated home in prime Allen location! This home is spacious and provides great versatility with 2 large living areas, one with beautiful corner fireplace. Updated eat-in kitchen with granite counters, gas cooktop, and stainless appliances with double ovens. Incredible master suite with hardwood floors and en-suite bath. No carpet anywhere in this home! Secondary bath remodeled with marble shower. Large backyard with fruit producing trees makes a perfect space for relaxing or entertaining.

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
 

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

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,347
Property Tax -$703
Property Insurance -$176
HOA -$29
Property Management Fees -$99
CASH FLOW
-$333

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

$2,020

PROJECTED RENT

0.55%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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 70% 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

0.83

YEARS SAVED

$1,632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,068

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9954$2,0205$2,100
$2,100
RENT COMPS ANALYSIS
  • 1528 Summerfield Drive Allen, TX 4
    • 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.79
    •  
  • 754 Summerfield Drive Allen, TX 1
    • 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 2001
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 723 Cheyenne Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 1999
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 805 Idlewood Drive Allen, TX 3
    • 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 2001
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 1530 Balboa Lane Allen, TX 5
    • 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2002
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
PROPERTY LISTING DETAILS
Lance Taylor
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466992
Last Updated: 11/07/2020
BESbswy