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400 Blue Ridge Court Allen, TX 75013

4 Beds 4 Baths 4,253 sqft Built 2009

$649,900

List Price

$3,670

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $152.81
  • 1 Days on Market
  • MLS # : 14528336
  • Updated Date : 03/06/2021 at 22:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,253 sqft
  • Baths : 3 full , 1 half
Listing Agent

Rekonnection, Llc

Listing Agent's Description

Gorgeous singe owner Toll brothers 4 bedroom,3.5 bath, Game room, Media room and a Study home on a corner lot and Quiet cul-de-sac street in elite neighborhood of Somerset in Twin Creeks!.Gorgeous Chef’s Kitchen include oversized island,Stainless steel Appliances,double oven open to breakfast area and Generous Family Room with Soaring Ceiling and Cozy Fireplace! Master bath with Granite counters his & her vanities,framed mirrors, separate tub & shower, large walk-in closet.Upstairs is a Large Game room + Media room ,three secondary bedrooms & 2 Full Baths. Upgrades include study with French doors,Plantation Shutters, hand scraped hardwood floors in entry, dining and family room,surround sound speakers in family

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: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Twin Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263455

* 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
Ereckson Middle School Middle Regular 1,156 69 9
Lowery Freshman Center High Regular 1,571 104 8
Ereckson Middle School Middle Unknown NA

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

Ereckson Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$584,910$714,890$649,900

PURCHASE PRICE

$3,303$4,037$3,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,670
EXPENSES Loan Payment -$2,257
Property Tax -$1,251
Property Insurance -$273
HOA -$100
Property Management Fees -$99
CASH FLOW
-$310

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.

$649,900

PROJECTED PRICE

$3,670

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$8,599

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,670

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $3,700

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,6703$3,7454$3,9005$4,100
$4,100
RENT COMPS ANALYSIS
  • 400 Blue Ridge Court Allen, TX 2
    • 4 beds 4 baths ∙ 4,253 Sqft ∙ Built 2009 4 beds 4 baths ∙ 4,253 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $3,670
    • $0.86
    •  
  • 1402 Caliche Trail Allen, TX 1
    • 5 beds 4 baths ∙ 4,067 Sqft ∙ Built 2015 5 beds 4 baths ∙ 4,067 Sqft ∙ Built 2015
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.81
    •  
  • 502 Cordilleran Court Allen, TX 3
    • 4 beds 4 baths ∙ 4,237 Sqft ∙ Built 2015 4 beds 4 baths ∙ 4,237 Sqft ∙ Built 2015
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,745
    • $0.88
    •  
  • 1601 Barclay Drive Allen, TX 4
    • 5 beds 5 baths ∙ 4,490 Sqft ∙ Built 2011 5 beds 5 baths ∙ 4,490 Sqft ∙ Built 2011
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $0.87
    •  
  • 1917 Esparanza Court Allen, TX 5
    • 4 beds 4 baths ∙ 4,476 Sqft ∙ Built 2009 4 beds 4 baths ∙ 4,476 Sqft ∙ Built 2009
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ram Konara
Rekonnection, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528336
Last Updated: 03/06/2021
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