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1813 Downing Street Allen, TX 75013

3 Beds 2 Baths 1,713 sqft Built 2006

$315,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $183.89
  • 2 Days on Market
  • MLS # : 14533703
  • Updated Date : 03/20/2021 at 20:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,713 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

A beautiful traditional style home in the heart of Allen, Texas. This home is perfectly situated near restaurants, shopping, schools and easy access to all major roadways. The home offers a split bedroom concept with tremendous natural lighting and hardwood flooring. This homes floor plan offers great opportunities for hosting birthdays, family events and other gatherings. Also, the home has a beautiful covered patio area to enjoy your morning coffee or sit out and watch the kids play in the perfect backyard. Neighborhood park is an easy 1 block walk from your home.

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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,094
Property Tax -$606
Property Insurance -$126
HOA -$60
Property Management Fees -$99
CASH FLOW
-$196

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.

$315,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8503$1,9954$1,9955$2,150
$2,150
RENT COMPS ANALYSIS
  • 1813 Downing Street Allen, TX 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.04
    •  
  • 1409 Tudor Drive Allen, TX 2
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 2002
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 1427 Snowberry Drive Allen, TX 3
    • 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2006
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.06
    •  
  • 1316 Marwood Court Allen, TX 4
    • 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2001
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.04
    •  
  • 1334 Kingsley Drive Allen, TX 5
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.07
    •  
PROPERTY LISTING DETAILS
Nolan Whisenhunt
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533703
Last Updated: 03/20/2021
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