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1726 Honey Creek Lane Allen, TX 75002

5 Beds 4 Baths 3,674 sqft Built 2005

$375,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $102.07
  • 3 Days on Market
  • MLS # : 14488001
  • Updated Date : 12/19/2020 at 04:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,674 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Great home for a large family in the very desirable community of Silhouette in Allen! This 5 bed, 3.1 bath home comes with hardwood floors & fresh paint throughout the common areas, formal dining room, new carpet upstairs, and spacious game room! Large kitchen with stainless appliances and butlers pantry. Huge master en-suite with sitting area, dual sinks, separate shower, garden tub, and his~hers walk-in closet. Large secondary bedrooms all come with walk-in closets. Close to shopping, restaurants, and entertainment at the Fairview Town Center and the Village at Allen. Easy access to Hwy 75 & 121.

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: Silhouette

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Silhouette

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262213

* 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
Marion Elementary School Primary Regular 792 48 10
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Marion Elementary School

  • Education Level: Primary
  • # of students: 792
  • # of teachers: 48
10
GreatSchools Rating

Curtis Middle School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 70
10
GreatSchools Rating

Lowery Freshman Center

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

$337,500$412,500$375,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,384
Property Tax -$722
Property Insurance -$239
HOA -$117
Property Management Fees -$99
CASH FLOW
-$61

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.

$375,000

PROJECTED PRICE

$2,500

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,746

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5003$2,8004$2,8005$2,895
$2,895
RENT COMPS ANALYSIS
  • 1726 Honey Creek Lane Allen, TX 2
    • 5 beds 4 baths ∙ 3,674 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,674 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.68
    •  
  • 1740 Honey Creek Lane Allen, TX 1
    • 5 beds 4 baths ∙ 3,682 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,682 Sqft ∙ Built 2006
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.65
    •  
  • 5607 Emerson Court Fairview, TX 3
    • 5 beds 4 baths ∙ 3,726 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,726 Sqft ∙ Built 2006
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.75
    •  
  • 1313 Winecup Court Allen, TX 4
    • 5 beds 4 baths ∙ 3,568 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,568 Sqft ∙ Built 2005
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.78
    •  
  • 1606 Bryce Canyon Lane Allen, TX 5
    • 4 beds 4 baths ∙ 3,554 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,554 Sqft ∙ Built 2005
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.81
    •  
PROPERTY LISTING DETAILS
Sarah Brimmage Cave
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 #: 14488001
Last Updated: 12/19/2020
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