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1627 Collin Drive Allen, TX 75002

3 Beds 3 Baths 1,183 sqft Built 1992

$210,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $177.51
  • 4 Days on Market
  • MLS # : 14462026
  • Updated Date : 11/01/2020 at 11:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,183 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

Great 3 bedroom 2 and half bath home that has been refreshed with new interior paint, granite counters and new range. Move in ready with nice Family Room, Formal Dining and Kitchen downstairs with spacious Master and 2 secondary bedroom upstairs. Conveniently located close to Parks, Recreation, Shopping, Highways and Transportation.

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: Collin Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $97k372k

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

Neighborhood: Collin Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8712213

* 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
Boyd Elementary School Primary Regular 718 58 5
Ereckson Middle School Middle Regular 1,156 69 9
Lowery Freshman Center High Regular 1,571 104 8

Boyd Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 58
5
GreatSchools Rating

Ereckson Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 69
9
GreatSchools Rating

Lowery Freshman Center

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

$189,000$231,000$210,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$775
Property Tax -$404
Property Insurance -$96
Property Management Fees -$99
CASH FLOW
$16

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 13.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$13,561

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,384

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4953$1,4994$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 1627 Collin Drive Allen, TX 1
    • 3 beds 3 baths ∙ 1,183 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,183 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.17
    •  
  • 553 Ridgemont Allen, TX 2
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1977
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.15
    •  
  • 522 Hanover Drive Allen, TX 3
    • 3 beds 2 baths ∙ 1,256 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,256 Sqft ∙ Built 1977
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.19
    •  
  • 31 Buchanan Place Allen, TX 4
    • 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 1993
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.15
    •  
  • 527 Ridgemont Drive Allen, TX 5
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1977
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.19
    •  
PROPERTY LISTING DETAILS
Chris Spear
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462026
Last Updated: 11/01/2020
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