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1903 Downing Street Allen, TX 75013

3 Beds 3 Baths 2,212 sqft Built 2006

$345,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $155.97
  • 4 Days on Market
  • MLS # : 14519592
  • Updated Date : 02/26/2021 at 11:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,212 sqft
  • Baths : 3 full
Listing Agent

Points West Agency

Listing Agent's Description

Private 2 story garden home with water views and no adjoining neighbor lot lines! Well maintained 3 bed, 3 bath, home with downstairs family room and upstairs game-media room. Open floor plan, light and bright! New fence in 2019. Roof 2014. Permitted and Inspected Foundation Repairs in 2020 with Lifetime Transferable Warranty. Downstairs guest suite, kitchen has gas cook-top, family room with wood floor and fireplace. Spacious master suite up, walk-in closet, lovely master bath. Additional bed and bath, and media or game room also up. Balcony attached to master overlooks pond. Nice size backyard. 2 car garage. MULTIPLE OFFERS RECEIVED - Seller requesting highest and best by 5 pm 2-27-21

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,198
Property Tax -$664
Property Insurance -$155
HOA -$58
Property Management Fees -$99
CASH FLOW
-$104

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.

$345,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.60%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$7,771

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,090

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0703$2,1004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1903 Downing Street Allen, TX 2
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.94
    •  
  • 1421 Kingsley Drive Allen, TX 1
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2002
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.94
    •  
  • 1413 Snowberry Drive Allen, TX 3
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2006
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 1428 Tudor Drive Allen, TX 4
    • 4 beds 2 baths ∙ 2,216 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,216 Sqft ∙ Built 2002
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 1439 Kingsley Drive Allen, TX 5
    • 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2002
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ryan Pafford
Points West Agency
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519592
Last Updated: 02/26/2021
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