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1636 Alamosa Drive Allen, TX 75013

4 Beds 5 Baths 3,854 sqft Built 2014

$649,999

List Price

$3,260

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $168.66
  • 3 Days on Market
  • MLS # : 14538730
  • Updated Date : 03/26/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,854 sqft
  • Baths : 3 full , 2 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Gorgeous home that shows like new! This home is loaded with upgrades, including hand-scraped hardwoods on most of the bottom floor and plantation shutters! Gorgeous entrance with curved staircase. The primary suite, study, and one bedroom with ensuite bathroom are down. Spacious and inviting family room with two-story stone fireplace. Open kitchen with huge island, double ovens, five-burner cooktop, and an abundance of custom cabinets. Large primary suite with spa-like primary bathroom, with two walk-in closets. Upstairs has a large game room and media room with top-notch insulation and wiring. Three car garage. Backyard complete with a covered patio with brick fencing!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263455

* 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
Ereckson Middle School Middle Regular 1,156 69 9
Lowery Freshman Center High Regular 1,571 104 8
Ereckson Middle School Middle Unknown NA

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

Ereckson Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$584,999$714,999$649,999

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$2,258
Property Tax -$1,251
Property Insurance -$250
HOA -$74
Property Management Fees -$99
CASH FLOW
-$672

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.

$649,999

PROJECTED PRICE

$3,260

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,499
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$620

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,266

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0003$3,2604$3,3505$3,650
$3,650
RENT COMPS ANALYSIS
  • 1636 Alamosa Drive Allen, TX 3
    • 4 beds 5 baths ∙ 3,854 Sqft ∙ Built 2014 4 beds 5 baths ∙ 3,854 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $0.85
    •  
  • 1605 Willingham Drive Allen, TX 1
    • 4 beds 3 baths ∙ 3,619 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,619 Sqft ∙ Built 2013
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.80
    •  
  • 1528 Riverdale Drive Allen, TX 2
    • 4 beds 4 baths ∙ 3,632 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,632 Sqft ∙ Built 2011
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.83
    •  
  • 1510 Evanvale Drive Allen, TX 4
    • 5 beds 3 baths ∙ 3,829 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,829 Sqft ∙ Built 2007
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $0.87
    •  
  • 1505 Willingham Drive Allen, TX 5
    • 5 beds 4 baths ∙ 4,119 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,119 Sqft ∙ Built 2007
    property image
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Lauran Ituarte
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538730
Last Updated: 03/26/2021
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