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155 Alexander Court Allen, TX 75002

4 Beds 3 Baths 3,084 sqft Built 2000

$550,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $178.34
  • 3 Days on Market
  • MLS # : 14464029
  • Updated Date : 11/14/2020 at 17:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,084 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Entertainers Dream Home! Imagine entertaining friends and family in your very own resort-style back yard paradise. Located in Prestigious Lovejoy ISD, minutes from Collin County's best shopping, dining, and entertainment venues. This Beautiful 2 story home sits on a third of an acre on a cul-de-sac street. Open floor plan with a private master suite, and one-bedroom down with two bedrooms and a game room upstairs. This winter, cozy up by the true masonry fireplace on the magnificent covered patio, or stay warm in the spacious hot tub. Multiple offers, please send Highest and Best Offer tonight! The owner is a Licenced Real Estate Agent!

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

Zip Code: 75002

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Zip Code: 75002

ZipNIR 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
Hart Elementary School Primary Regular 447 32 9
Sloan Creek Intermediate School Middle Regular 679 43 10
Lovejoy High School High Regular 1,259 90 10

Hart Elementary School

  • Education Level: Primary
  • # of students: 447
  • # of teachers: 32
9
GreatSchools Rating

Sloan Creek Intermediate School

  • Education Level: Middle
  • # of students: 679
  • # of teachers: 43
10
GreatSchools Rating

Lovejoy High School

  • Education Level: High
  • # of students: 1,259
  • # of teachers: 90
10
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,029
Property Tax -$966
Property Insurance -$205
HOA -$48
Property Management Fees -$99
CASH FLOW
-$307

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.

$550,000

PROJECTED PRICE

$3,040

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,351

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$3,0403$3,4004$3,600
$3,600
RENT COMPS ANALYSIS
  • 155 Alexander Court Allen, TX 2
    • 4 beds 3 baths ∙ 3,084 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,084 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $0.99
    •  
  • 113 Connor Lane Lucas, TX 1
    • 4 beds 4 baths ∙ 3,097 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,097 Sqft ∙ Built 2005
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
  • 12 Estates Road Lucas, TX 3
    • 4 beds 3 baths ∙ 2,949 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,949 Sqft ∙ Built 2017
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.15
    •  
  • 401 Seis Lagos Trail Wylie, TX 4
    • 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 1985
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.22
    •  
PROPERTY LISTING DETAILS
Deann Abbott
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464029
Last Updated: 11/14/2020
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