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2017 Stonemont Court Allen, TX 75013

5 Beds 4 Baths 3,410 sqft Built 2001

$450,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $131.96
  • 3 Days on Market
  • MLS # : 14525801
  • Updated Date : 03/12/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,410 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Allen-fairview

Listing Agent's Description

Lovely home on a corner lot nestled among beautiful mature trees in Allen ISD. North facing bright and open floorpan with soaring ceilings and a wall of windows in the family room. The perfect plan design with master and second bedroom, currently used as office, down and three bedrooms and 2 baths with game room up. The front formal living room with a view of the front yard and back yard is perfect for the second office. This tree house boasts an oversized 3 car garage perfect for parking 3 cars or 2 cars and a workshop. Neighborhood offers a community pool

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: Custer Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Custer Meadows

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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,563
Property Tax -$866
Property Insurance -$224
HOA -$48
Property Management Fees -$99
CASH FLOW
-$150

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.

$450,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.3%
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$15k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$9,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,694

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,6504$2,6955$2,850
$2,850
RENT COMPS ANALYSIS
  • 2017 Stonemont Court Allen, TX 3
    • 5 beds 4 baths ∙ 3,410 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,410 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.78
    •  
  • 1913 Bridgewater Drive Allen, TX 1
    • 4 beds 4 baths ∙ 3,241 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,241 Sqft ∙ Built 2001
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.80
    •  
  • 9720 Zembriski Drive Plano, TX 2
    • 5 beds 4 baths ∙ 3,546 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,546 Sqft ∙ Built 2001
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.75
    •  
  • 2501 Royal Birkdale Drive Plano, TX 4
    • 5 beds 4 baths ∙ 3,474 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,474 Sqft ∙ Built 1998
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.78
    •  
  • 2034 Stonemont Court Allen, TX 5
    • 4 beds 4 baths ∙ 3,435 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,435 Sqft ∙ Built 2001
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.83
    •  
PROPERTY LISTING DETAILS
Tannah Mcgaughy
Ebby Halliday, Allen-fairview
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525801
Last Updated: 03/12/2021
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