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1541 Creek Springs Drive Allen, TX 75002

4 Beds 2 Baths 2,471 sqft Built 2002

$325,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $131.53
  • 3 Days on Market
  • MLS # : 14464671
  • Updated Date : 11/08/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,471 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Well maintained beautifully updated 1.5 story nestled in Lost Creek Ranch, Allen. This home features a great open living space for entertaining family and friends with natural sunlight and a warm and inviting brick fireplace. The kitchen has living room sight-lines and offers granite counter-tops, stainless Frigidaire stainless appliances, gas cook-top and 2 pantries providing ample storage. All bedrooms are conveniently situated on the first floor with a split master bedroom. Private 2nd living area or game room up is perfect for kids! Flex room off entry could be a study, dining or play room. Excellent location just minutes to 75 and 121, Allen Outlets and Watters Creek. Fresh paint, carpet and bathroom tile.

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: Lost Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Lost Creek Ranch

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
Marion Elementary School Primary Regular 792 48 10
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Marion Elementary School

  • Education Level: Primary
  • # of students: 792
  • # of teachers: 48
10
GreatSchools Rating

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,199
Property Tax -$626
Property Insurance -$170
HOA -$42
Property Management Fees -$99
CASH FLOW
-$55

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.

$325,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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$10k$12k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,398

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,063

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,0254$2,0505$2,080
$2,080
RENT COMPS ANALYSIS
  • 1541 Creek Springs Drive Allen, TX 5
    • 4 beds 2 baths ∙ 2,471 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,471 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.84
    •  
  • 1550 Crystal Pass Allen, TX 1
    • 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2004
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 1540 Bradford Trace Drive Allen, TX 2
    • 4 beds 2 baths ∙ 2,355 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,355 Sqft ∙ Built 2003
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 1515 Creek Springs Drive Allen, TX 3
    • 3 beds 2 baths ∙ 2,336 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,336 Sqft ∙ Built 2002
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.87
    •  
  • 1567 Bradford Trace Drive Allen, TX 4
    • 4 beds 2 baths ∙ 2,537 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,537 Sqft ∙ Built 2002
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.81
    •  
PROPERTY LISTING DETAILS
Thomas Thompson
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464671
Last Updated: 11/08/2020
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