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1617 Ponderosa Drive Allen, TX 75002

5 Beds 4 Baths 3,708 sqft Built 2002

$540,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $145.63
  • 3 Days on Market
  • MLS # : 14506231
  • Updated Date : 02/05/2021 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,708 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Located in the highly sought-after Lovejoy school district. This beautiful single-owner home is bright, open & inviting! Wood-look ceramic tile throughout downstairs makes maintenance a breeze. The recently remodeled kitchen opens to the family room & features a gas stove, & stainless appliances. Owner’s suite & guest room down. Upstairs you’ll find a gameroom that opens to family room below & media room in addition to 3 bedrooms. Recent updates include new carpet & interior paint in 2018, a new fence, new roof, 20 new windows & 2 new water heaters in 2019. Conveniently located to 75, 121 tollway, entertainment, and shopping. Everything you're looking for is right here!

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: Bellegrove

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k472k

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

Neighborhood: Bellegrove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262864

* 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
Puster Elementary School Primary Regular 366 26 9
Sloan Creek Intermediate School Middle Regular 679 43 10
Lovejoy High School High Regular 1,259 90 10

Puster Elementary School

  • Education Level: Primary
  • # of students: 366
  • # of teachers: 26
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
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$1,876
Property Tax -$1,040
Property Insurance -$241
HOA -$60
Property Management Fees -$99
CASH FLOW
-$336

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.

$540,000

PROJECTED PRICE

$2,980

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

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$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,876

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $3,319

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9803$3,3004$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 1617 Ponderosa Drive Allen, TX 2
    • 5 beds 4 baths ∙ 3,708 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,708 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $0.80
    •  
  • 1001 Carlsbad Drive Allen, TX 1
    • 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2002
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.80
    •  
  • 2023 Winding Way Lane Allen, TX 3
    • 4 beds 4 baths ∙ 3,546 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,546 Sqft ∙ Built 2003
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.93
    •  
  • 1611 Sweetbay Drive Allen, TX 4
    • 4 beds 4 baths ∙ 3,582 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,582 Sqft ∙ Built 2003
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.95
    •  
  • 1602 Country Bend Allen, TX 5
    • 5 beds 4 baths ∙ 3,901 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,901 Sqft ∙ Built 2002
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Tom Grisak
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506231
Last Updated: 02/05/2021
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