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1612 Tulare Drive Allen, TX 75002

5 Beds 4 Baths 3,896 sqft Built 2006

$429,000

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $110.11
  • 4 Days on Market
  • MLS # : 14464135
  • Updated Date : 11/07/2020 at 10:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,896 sqft
  • Baths : 4 full
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

This gorgeous FIVE bedrooms house has a huge and spacious kitchen with island and seats. A study downstairs and Master with four bedrooms up. Many living areas including a media room and game room up. Den and formal living and dining and breakfast area downstairs. Tandem three car garage and patio. Kitchen has granite countertops and tile backsplash, walk in pantry stainless steel sink and 42 inch cabinets. Nice drive up appeal close to I75 and shopping and dining.

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: Parkside Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k444k

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

Neighborhood: Parkside Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262665

* 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
Chandler Elementary School Primary Regular 684 44 10
Chandler Elementary School Middle Regular 684 44 10
Ford Middle School High Regular 877 55 9

Chandler Elementary School

  • Education Level: Primary
  • # of students: 684
  • # of teachers: 44
10
GreatSchools Rating

Chandler Elementary School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 44
10
GreatSchools Rating

Ford Middle School

  • Education Level: High
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating
 

$386,100$471,900$429,000

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$1,583
Property Tax -$826
Property Insurance -$252
HOA -$33
Property Management Fees -$99
CASH FLOW
$67

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.

$429,000

PROJECTED PRICE

$2,860

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$29,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,825

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,8003$2,860
$2,860
RENT COMPS ANALYSIS
  • 1612 Tulare Drive Allen, TX 3
    • 5 beds 4 baths ∙ 3,896 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,896 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $0.73
    •  
  • 1813 Camo Court Allen, TX 1
    • 4 beds 4 baths ∙ 3,671 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,671 Sqft ∙ Built 2016
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.68
    •  
  • 826 Idlewood Drive Allen, TX 2
    • 4 beds 4 baths ∙ 3,659 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,659 Sqft ∙ Built 2001
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.77
    •  
PROPERTY LISTING DETAILS
Basil Bandek
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464135
Last Updated: 11/07/2020
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