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1801 Downing Street Allen, TX 75013

3 Beds 3 Baths 2,300 sqft Built 2006

$370,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $160.87
  • 2 Days on Market
  • MLS # : 14528032
  • Updated Date : 03/06/2021 at 14:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,300 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautiful CORNER lot 2006 built 3 bedroom 3 full bathroom home! 2,300 sqft in a two story house that has a open floor plan. The kitchen has Granite counters and stainless steel appliances, gas cooktop and a big butler's pantry. Both Secondary rooms come with huge closets. Be sure to check out the master closet which is close to 15' deep!! A MUST SEE!! This house also is 2 stories with the upstairs having a wood floored game room with a full bath also! GREAT SPACE! New HVAC (2020) New Fence (2019) Roof (2019). Gas Stove conversion (2020) Garbage Disposal (2020) New Garage Door (2020)

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: Avondale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Avondale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,285
Property Tax -$712
Property Insurance -$160
HOA -$60
Property Management Fees -$99
CASH FLOW
-$187

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.

$370,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 8.4%
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

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,744

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0503$2,1004$2,1005$2,130
$2,130
RENT COMPS ANALYSIS
  • 1801 Downing Street Allen, TX 5
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.93
    •  
  • 1415 Kingsley Drive Allen, TX 1
    • 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 2002
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 1421 Kingsley Drive Allen, TX 2
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2002
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.94
    •  
  • 1428 Tudor Drive Allen, TX 3
    • 4 beds 2 baths ∙ 2,216 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,216 Sqft ∙ Built 2002
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 1439 Kingsley Drive Allen, TX 4
    • 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2002
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Karan Patel
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528032
Last Updated: 03/06/2021
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