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411 Saint Andrews Drive Allen, TX 75002

4 Beds 2 Baths 2,685 sqft Built 2002

INVESTimate

$400,000

List Price

$2,260

$2,034 - $2,486

Rent Est.

$432,200  ( +8.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $148.98
  • 5 Days on Market
  • MLS # : 14406085
  • Updated Date : 08/25/2020 at 07:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,685 sqft
  • Baths : 2 full
Listing Agent

Summit, Realtors

Listing Agent's Description

Showing starts Thursday.4 bedroom plus study home with extensive hardwoods most rooms, custom cabinets and granite island kitchen.1 story except lg game or media room up. Triple crown molding in living room and master, plantation shutters throughout. Both baths Are recently remodeled with granite counters, custom cabinets, master with granite bath, Large soaking tub with granite surround, and Separate frameless granite shower. Utility room also has custom cabinets. Beautiful outdoor oasis w extensive covered patio, stone look patio & PebbleTec pool with raised spa and waterfall. Two huge shade trees in front and huge palm tree by the pool with extensive landscaping.New roof, reconditioned fence & pergola 2019

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: Spring Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Spring Meadow

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
Olson Elementary School Primary Regular 781 51 10
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8

Olson Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 51
10
GreatSchools Rating

Curtis Middle School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 70
10
GreatSchools Rating

Lowery Freshman Center

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

$360,000$440,000$400,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,476
Property Tax -$770
Property Insurance -$182
HOA -$20
Property Management Fees -$99
CASH FLOW
-$288

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.

$400,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.05%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,249

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,2003$2,2504$2,2605$2,300
$2,300
RENT COMPS ANALYSIS
  • 411 Saint Andrews Drive Allen, TX 4
    • 4 beds 2 baths ∙ 2,685 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,685 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.84
    •  
  • 903 Larkspur Drive Allen, TX 1
    • 4 beds 2 baths ∙ 2,486 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,486 Sqft ∙ Built 2000
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.82
    •  
  • 1402 Sunshine Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 2001
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 628 Ansley Way Allen, TX 3
    • 3 beds 3 baths ∙ 2,576 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,576 Sqft ∙ Built 2017
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.87
    •  
  • 413 Sunrise Drive Allen, TX 5
    • 4 beds 3 baths ∙ 2,883 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,883 Sqft ∙ Built 2000
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
PROPERTY LISTING DETAILS
Kimberly Crawford
Summit, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14406085
Last Updated: 08/25/2020
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