Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1909 Kirby Lane Allen, TX 75013

3 Beds 2 Baths 2,174 sqft Built 2005

INVESTimate

$359,900

List Price

$2,060

$1,854 - $2,266

Rent Est.

$373,000  ( +3.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $165.55
  • 6 Days on Market
  • MLS # : 14416236
  • Updated Date : 08/25/2020 at 19:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,174 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Hard to find one story in Twin Creeks near Mary Evans Elementary built in 2005! Quality abounds in this wonderful Highland home. Outdoor living area includes a cedar arbor and flagstone patio. Island kitchen with an abundance of custom cabinets, gas cooking, stainless appliances. Breakfast nook includes a window seat. Study is located off of the entry. Spacious family room with fireplace, vaulted ceiling and ceiling fan. Split master features a corner jacuzzi tub, separate shower and walk in closet. Updated lighting and paint. Professional landscaping.

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: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263455

* 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
Evans Elementary School Primary Regular 633 41 10
Evans Elementary School Middle Regular 633 41 10
Lowery Freshman Center High Regular 1,571 104 8

Evans Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 41
10
GreatSchools Rating

Evans Elementary School

  • Education Level: Middle
  • # of students: 633
  • # of teachers: 41
10
GreatSchools Rating

Lowery Freshman Center

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

$323,910$395,890$359,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,328
Property Tax -$693
Property Insurance -$153
HOA -$49
Property Management Fees -$99
CASH FLOW
-$261

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.

$359,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.64%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,098

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0603$2,0754$2,4005$2,490
$2,490
RENT COMPS ANALYSIS
  • 1909 Kirby Lane Allen, TX 2
    • 3 beds 2 baths ∙ 2,174 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,174 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.95
    •  
  • 1429 Greenwich Drive Allen, TX 1
    • 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2003
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 1905 Kirby Lane Allen, TX 3
    • 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2006
    LEASED 04/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.97
    •  
  • 1809 Port Isabel Drive Allen, TX 4
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2005
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.95
    •  
  • 1429 Lampasas Drive Allen, TX 5
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2007
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.99
    •  
PROPERTY LISTING DETAILS
Michelle Jones
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416236
Last Updated: 08/25/2020
BESbswy