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1723 Turnberry Lane Allen, TX 75002

4 Beds 4 Baths 4,431 sqft Built 2001

$735,000

List Price

$3,410

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $165.88
  • 3 Days on Market
  • MLS # : 14491500
  • Updated Date : 01/02/2021 at 15:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,431 sqft
  • Baths : 3 full , 1 half
Listing Agent

Owens Realtors

Listing Agent's Description

This Lovejoy ISD home is full of thoughtful updates with hand scraped hardwood floors, built in cabinets and storage galore. The kitchen with enormous island has granite counters and stainless appliances. Large laundry room and mudroom, downstairs half bath, study with builtins and even an exercise room located off the master closet. Upstairs game room, media room with built in mini fridge plus 3 secondary bedrooms and 2 bathrooms. On almost a full acre with mature landscaping, full sprinklers, and sparkling pool, the backyard is completely private backing up to a tree line. Security system with exterior infrared cameras. New 50 yr roof 2014 Dishwasher 2020 All new windows and cooktop to be installed Jan 2021

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Country Brook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k540k

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

Neighborhood: Country Brook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263468

* 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
Lovejoy Elementary School Primary Regular 435 33 10
Sloan Creek Intermediate School Middle Regular 679 43 10
Lovejoy High School High Regular 1,259 90 10

Lovejoy Elementary School

  • Education Level: Primary
  • # of students: 435
  • # of teachers: 33
10
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
 

$661,500$808,500$735,000

PURCHASE PRICE

$3,069$3,751$3,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$2,712
Property Tax -$1,415
Property Insurance -$283
HOA -$35
Property Management Fees -$99
CASH FLOW
-$1,133

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.

$735,000

PROJECTED PRICE

$3,410

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$200,525

INVESTMENT

$200,525

Down Payment
$183,750
Rehab Estimate
$5,750
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,712

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$36

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,410

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,880

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,675
1$2,6752$3,410
$3,410
RENT COMPS ANALYSIS
  • 1723 Turnberry Lane Allen, TX 2
    • 4 beds 4 baths ∙ 4,431 Sqft ∙ Built 2001 4 beds 4 baths ∙ 4,431 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,410
    • $0.77
    •  
  • 393 Fairlanding Avenue Fairview, TX 1
    • 5 beds 4 baths ∙ 4,112 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,112 Sqft ∙ Built 2007
    property image
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.65
    •  
PROPERTY LISTING DETAILS
Mauri Roach
Owens Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491500
Last Updated: 01/02/2021
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