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1611 Broadmoor Drive Allen, TX 75002

4 Beds 3 Baths 2,640 sqft Built 2003

$338,990

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $128.41
  • 3 Days on Market
  • MLS # : 14484773
  • Updated Date : 12/11/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,640 sqft
  • Baths : 3 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Lovely 4 Bedrooms, 3 Full Baths home. Highly rated schools with minutes from Allen High School. Newly updated flooring and kitchen with modern style cabinets. Granite countertops in kitchen and other bathrooms, stainless steel appliances. Roof replaced in 2019, Large Master with sitting area, jetted tub, separate shower and walk-in closet. One bedroom down with a Full Bath, updated fixtures with plenty of natural lights. Extended back patio, board on board fence, extra wide garage for additional storage. Walking distance to neighborhood parks.

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: Auburn Springs

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Auburn Springs

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
Anderson Elementary School Primary Regular 603 39 10
Anderson Elementary School Middle Regular 603 39 10
Lowery Freshman Center High Regular 1,571 104 8

Anderson Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 39
10
GreatSchools Rating

Anderson Elementary School

  • Education Level: Middle
  • # of students: 603
  • # of teachers: 39
10
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating
 

$305,091$372,889$338,990

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 -$1,251
Property Tax -$653
Property Insurance -$180
HOA -$32
Property Management Fees -$99
CASH FLOW
-$134

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.

$338,990

PROJECTED PRICE

$2,080

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$95,582

INVESTMENT

$95,582

Down Payment
$84,748
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,748
Loan Amount $254,243
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$8,751

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
  • $0.79

    LIST RENT PER SQFT
  • $2,105

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$1,9504$2,0805$2,100
$2,100
RENT COMPS ANALYSIS
  • 1611 Broadmoor Drive Allen, TX 4
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.79
    •  
  • 1631 Salvia Springs Allen, TX 1
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2004
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.75
    •  
  • 1706 Mineral Springs Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2004
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 1517 Northaven Drive Allen, TX 3
    • 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2001
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 1525 Sugar Bush Trail Allen, TX 5
    • 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2000
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Xu Johnson
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484773
Last Updated: 12/11/2020
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