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414 Deer Brooke Drive Allen, TX 75002

4 Beds 2 Baths 2,362 sqft Built 2001

$350,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $148.18
  • 4 Days on Market
  • MLS # : 14479927
  • Updated Date : 12/05/2020 at 08:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,362 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

MULTIPLE OFFERS, HIGHEST & BEST DUE BY DEC 6 AT 5PM! Gorgeous 1 story Highland Home with 4 bedrooms PLUS study in highly sought after Reid Farms! Hard to find a GEM like this! Floor plan is a favorite featuring tall ceilings, plantations shutters, wood flooring, neutral updated paint colors & large owners suite that is split from other bedrooms. Private office & an elegant formal dining room, large living room with great wall of windows, a fireplace w gas starter & opens to the gourmet style kitchen with a huge island to entertain around, lots of cabinets & counter-prep area, ss appliances including gas cooktop & eat in breakfast room! Seller has replaced AC, roof, pergola & wood floors in the owners suite!

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: Reid Farm

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k435k

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

Neighborhood: Reid Farm

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262420

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,291
Property Tax -$674
Property Insurance -$164
HOA -$38
Property Management Fees -$99
CASH FLOW
-$235

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.

$350,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.58%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,262

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0303$2,1504$2,3005$2,600
$2,600
RENT COMPS ANALYSIS
  • 414 Deer Brooke Drive Allen, TX 2
    • 4 beds 2 baths ∙ 2,362 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,362 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.86
    •  
  • 435 Spring Air Drive Allen, TX 1
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2001
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.89
    •  
  • 1405 Springmeadow Drive Allen, TX 3
    • 4 beds 2 baths ∙ 2,394 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,394 Sqft ∙ Built 2000
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
  • 249 Latham Drive Fairview, TX 4
    • 4 beds 2 baths ∙ 2,387 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,387 Sqft ∙ Built 2006
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
  • 1532 Turf Lane Allen, TX 5
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2020
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
PROPERTY LISTING DETAILS
Vicki Appleby
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479927
Last Updated: 12/05/2020
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