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302 Bardwell Drive Allen, TX 75002

3 Beds 3 Baths 2,145 sqft Built 1997

$295,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $137.53
  • 2 Days on Market
  • MLS # : 14479862
  • Updated Date : 12/05/2020 at 13:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,145 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

WOW! This Darling 3bd, 2.5bth home is absolutely adorable! Open floor plan, boasts extensive wood floors, built-ins, and gorgeous fireplace! NEW carpet, SS Appliances, granite, blinds thru-out. New Roof 2018! Spacious and PRIVATE backyard with Incredible view is sure to impress, backs up to stunning greenbelt, and path.Extended covered patio, great for entertaining. The backyard entrance has an Electric Driveway gate for added security and peace of mind. Award-Winning Allen Schools, WALK TO ALL SCHOOLS. Prime Location is just a few minutes from 75 and Hwy 121. This is a beautiful community near Bethany Lakes Park includes many walking & biking trails, fishing lakes, workout facilities, & a playground. No HOA!

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: Shadow Lakes North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Shadow Lakes North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10712213

* 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
Story Elementary School Primary Regular 533 37 9
Ford Middle School Middle Regular 877 55 9
Ford Middle School High Regular 877 55 9

Story Elementary School

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 37
9
GreatSchools Rating

Ford Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating

Ford Middle School

  • Education Level: High
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,088
Property Tax -$592
Property Insurance -$151
Property Management Fees -$99
CASH FLOW
-$21

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.

$295,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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-$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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,620

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,952

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9104$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 302 Bardwell Drive Allen, TX 3
    • 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.89
    •  
  • 503 Cameron Allen, TX 1
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 300 Bardwell Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1997
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.83
    •  
  • 316 Droinwich Circle Allen, TX 4
    • 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 1995
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 505 Dartmouth Lane Allen, TX 5
    • 4 beds 3 baths ∙ 2,113 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,113 Sqft ∙ Built 1996
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
PROPERTY LISTING DETAILS
Cheryl Leddy
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479862
Last Updated: 12/05/2020
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