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2034 Ravenhurst Drive Allen, TX 75013

3 Beds 3 Baths 2,385 sqft Built 1998

$359,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $150.52
  • 6 Days on Market
  • MLS # : 14478989
  • Updated Date : 12/05/2020 at 12:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,385 sqft
  • Baths : 2 full , 1 half
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

EXCELLENT ALLEN LOCATION- Corner 2 story! Magnificent . Looks like new, vaulted ceiling. 3 LARGE beds , master downstiars and large gameroom loft upstairs. FORMAL DINING and LIVING, OPEN KITCHEN, BRIGHT breakfast nook, LARGE FAMILY ROOM .All the UPGRADES- Bathroom, kitchen backsplash, FRIEZE CARPET, hi grade WOOD LAMINATE FLOORING, CUSTOM PAINT, DECORATIVE LIGHTING, STONE FIREPLACE, GIANT backyard with new cedar fence automatic gate, OPEN PATIO and much much more! OUTSTANDING Plano ISD!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Custer Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Custer Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10822213

* 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
Beverly Elementary School Primary Regular 488 39 10
Hendrick Middle School Middle Regular 800 51 7
Plano Senior High School High Regular 2,766 155 9

Beverly Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 39
10
GreatSchools Rating

Hendrick Middle School

  • Education Level: Middle
  • # of students: 800
  • # of teachers: 51
7
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,325
Property Tax -$691
Property Insurance -$165
Property Management Fees -$99
CASH FLOW
-$170

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.

$359,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,152

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0753$2,1004$2,1105$2,395
$2,395
RENT COMPS ANALYSIS
  • 2034 Ravenhurst Drive Allen, TX 4
    • 3 beds 3 baths ∙ 2,385 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,385 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.88
    •  
  • 405 Stonebridge Circle Allen, TX 1
    • 3 beds 2 baths ∙ 2,332 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,332 Sqft ∙ Built 1999
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 9016 Roundbluff Road Plano, TX 2
    • 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2001
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.95
    •  
  • 2212 Windy Ridge Court Plano, TX 3
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1998
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 308 Hardwick Court Allen, TX 5
    • 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 1996 4 beds 4 baths ∙ 2,507 Sqft ∙ Built 1996
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.96
    •  
PROPERTY LISTING DETAILS
G. Lilu David
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478989
Last Updated: 12/05/2020
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