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1532 Fallcreek Court Allen, TX 75002

3 Beds 2 Baths 1,592 sqft Built 1999

$290,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $182.16
  • 3 Days on Market
  • MLS # : 14516892
  • Updated Date : 02/12/2021 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,592 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Charming 1-story home in a wonderful neighborhood! Adorable curb appeal at the end of a cul de sac. Fantastic layout with an open floor plan, high ceilings, and tons of natural light. Spacious living room with a gorgeous, stacked stone fireplace. Updated kitchen with stainless steel appliances, granite counters, and breakfast bar. Tranquil master with an updated ensuite bathroom including an oversized shower, soaking tub, and dual vanities. Outdoor space includes a pergola and an easy maintenance backyard with enough green space for play! Walking distance to community pool, elementary and middle schools, and Celebration Park.

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: Morningside

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Morningside

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
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8
Curtis Middle School Middle Unknown NA

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

Curtis Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,007
Property Tax -$558
Property Insurance -$119
HOA -$33
Property Management Fees -$99
CASH FLOW
-$177

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.

$290,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,7503$1,8004$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1532 Fallcreek Court Allen, TX 1
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.03
    •  
  • 1524 Sugar Bush Trail Allen, TX 2
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 2001
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
  • 1517 Fallcreek Court Allen, TX 3
    • 4 beds 2 baths ∙ 1,783 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,783 Sqft ∙ Built 1999
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 101 Trailwood Drive Allen, TX 4
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2001
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 1516 Northaven Drive Allen, TX 5
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2000
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
PROPERTY LISTING DETAILS
Taffney Wilson
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 #: 14516892
Last Updated: 02/12/2021
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