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303 Broadmoor Drive Allen, TX 75002

4 Beds 2 Baths 2,000 sqft Built 2000

$325,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $162.50
  • 3 Days on Market
  • MLS # : 14470315
  • Updated Date : 11/13/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-coit

Listing Agent's Description

Wow! Rare opportunity in Allen! 4 bedroom, 2 living areas, single story home on an oversized lot! Pretty drive up to this East Allen property! Inside are stacked formals, open kitchen to family room and split secondary bedrooms. Pristine and current with wood floors and fresh paint! Out back is huge, treed lot with plenty of space for pool and play! Hard to find 3 car garage, too! Close to Celebration city park!

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: Morningside

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Morningside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262213

* 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
Anderson Elementary School Primary Regular 603 39 10
Anderson Elementary School Middle Regular 603 39 10
Lowery Freshman Center High Regular 1,571 104 8

Anderson Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 39
10
GreatSchools Rating

Anderson Elementary School

  • Education Level: Middle
  • # of students: 603
  • # of teachers: 39
10
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,199
Property Tax -$626
Property Insurance -$143
HOA -$33
Property Management Fees -$99
CASH FLOW
-$240

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.

$325,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.5%
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-$8.0k-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,097

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,825

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8453$1,8504$1,8605$1,925
$1,925
RENT COMPS ANALYSIS
  • 303 Broadmoor Drive Allen, TX 4
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.93
    •  
  • 1604 Salvia Springs Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,955 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,955 Sqft ∙ Built 2004
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.93
    •  
  • 1440 Rivercrest Boulevard Allen, TX 2
    • 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 1991
    property image
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.90
    •  
  • 1526 Sugar Bush Trail Allen, TX 3
    • 4 beds 2 baths ∙ 2,007 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,007 Sqft ∙ Built 2001
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 110 Arbor Ridge Drive Allen, TX 5
    • 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2002
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.90
    •  
PROPERTY LISTING DETAILS
Pamela Lewis
Ebby Halliday, Realtors-coit
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470315
Last Updated: 11/13/2020
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