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241 Allegheny Drive Burleson, TX 76028

4 Beds 3 Baths 2,715 sqft Built 2020

$304,817

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $112.27
  • 6 Days on Market
  • MLS # : 14462226
  • Updated Date : 10/29/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,715 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14462226 - Built by Kindred Homes - December completion! ~ Great Location in Hidden Vistas in Burleson close to walking trails, fishing, biking, golfing , shopping and much more. The Wimberly is Amazing Floor plan Starting with the Entry The Wimberly has engineered hardwood in the Entry way, Kitchen, Dining & Owners Suite. The Family room opens up to the kitchen area. Outdoor Patio great size for grilling or just hanging out with family & friends.

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: Hidden Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $88k393k

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

Neighborhood: Hidden Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9452405

* 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
Norwood Elementary School Primary Regular 437 30 3
Kerr Middle School Middle Regular 1,258 72 5
Kerr Middle School High Regular 1,258 72 5

Norwood Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 30
3
GreatSchools Rating

Kerr Middle School

  • Education Level: Middle
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating

Kerr Middle School

  • Education Level: High
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating
 

$274,335$335,299$304,817

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,125
Property Tax -$731
Property Insurance -$184
HOA -$38
Property Management Fees -$99
CASH FLOW
-$146

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$304,817

PROJECTED PRICE

$2,030

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,777

INVESTMENT

$82,777

Down Payment
$76,204
Rehab Estimate
$2,000
Closing Costs
$4,572

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,204
Loan Amount $228,613
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,657

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,982

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,8954$2,030
$2,030
RENT COMPS ANALYSIS
  • 241 Allegheny Drive Burleson, TX 4
    • 4 beds 3 baths ∙ 2,715 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,715 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.75
    •  
  • 408 Hidden Trail Court Burleson, TX 1
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2004
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 411 Hidden Ridge Drive Burleson, TX 2
    • 3 beds 2 baths ∙ 2,385 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,385 Sqft ∙ Built 2003
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 1008 Hidden Lake Drive Burleson, TX 3
    • 4 beds 2 baths ∙ 2,385 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,385 Sqft ∙ Built 2003
    property image
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.79
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462226
Last Updated: 10/29/2020
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