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30 Buchanan Place Allen, TX 75002

3 Beds 3 Baths 1,423 sqft Built 1985

$244,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $172.10
  • 2 Days on Market
  • MLS # : 14505229
  • Updated Date : 01/22/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,423 sqft
  • Baths : 2 full , 1 half
Listing Agent

Home Capital Realty Llc

Listing Agent's Description

All updated. Kitchen has new white cabinets, granite, marble backsplash, new SS apps. downstairs is all luxury vinyl plank. Master bath has new white cabinets, frameless shower glass, separate new bathtub. All repainted inside and outside. All new light fixtures and plumbing fixtures. Wrought iron spindles. New carpet.

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: Collin Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $97k372k

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

Neighborhood: Collin Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8712213

* 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
Boyd Elementary School Primary Regular 718 58 5
Ereckson Middle School Middle Regular 1,156 69 9
Lowery Freshman Center High Regular 1,571 104 8

Boyd Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 58
5
GreatSchools Rating

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
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$851
Property Tax -$471
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
-$71

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$244,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 13.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$6,692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5253$1,5604$1,5755$1,600
$1,600
RENT COMPS ANALYSIS
  • 30 Buchanan Place Allen, TX 1
    • 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.03
    •  
  • 31 Buchanan Place Allen, TX 2
    • 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 1993
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.15
    •  
  • 1625 Collin Drive Allen, TX 3
    • 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 1992
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.16
    •  
  • 18 Buchanan Place Allen, TX 4
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1992
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.13
    •  
  • 1517 Collin Drive Allen, TX 5
    • 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1993
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
PROPERTY LISTING DETAILS
Scott Cameron
Home Capital Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505229
Last Updated: 01/22/2021
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