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1533 Warm Springs Drive Allen, TX 75002

4 Beds 3 Baths 2,554 sqft Built 2001

$348,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $136.26
  • 5 Days on Market
  • MLS # : 14477445
  • Updated Date : 11/28/2020 at 11:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,554 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sage Street Realty

Listing Agent's Description

Update home! Welcome to your new home. This house features an updated luxury vinyl floor, new carpet, and fresh paint. Beautiful corner lot with a lot of updates from the roof and AC compressor. Walk straight through and the kitchen is to the right with new granite countertops plenty of cabinets for storage. The living room is open to the kitchen and dining area. There is a half bathroom in the hallway off the kitchen and laundry room at the end of the hall. All bedrooms are upstairs and the large master has a super walk in closet.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$313,200$382,800$348,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,284
Property Tax -$670
Property Insurance -$175
HOA -$25
Property Management Fees -$99
CASH FLOW
-$283

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.

$348,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.57%

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$97,970

INVESTMENT

$97,970

Down Payment
$87,000
Rehab Estimate
$5,750
Closing Costs
$5,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,000
Loan Amount $261,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,113

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9703$1,9954$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 1533 Warm Springs Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,554 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,554 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.77
    •  
  • 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
    •  
  • 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 4
    • 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
    •  
  • 1703 Mapleleaf Fall Drive Allen, TX 5
    • 3 beds 3 baths ∙ 2,432 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,432 Sqft ∙ Built 1999
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
PROPERTY LISTING DETAILS
Cutberto Salas
Sage Street Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477445
Last Updated: 11/28/2020
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