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447 Saint Andrews Drive Allen, TX 75002

4 Beds 3 Baths 2,369 sqft Built 2001

$331,900

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $140.10
  • 4 Days on Market
  • MLS # : 14463456
  • Updated Date : 10/31/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,369 sqft
  • Baths : 2 full , 1 half
Listing Agent

Starpro Realty Inc.

Listing Agent's Description

Tenant Occupied until July 2021. 4 bedroom, 2.5 bath home in desirable Spring Meadow of Allen, Great Location near Villages of Allen and Fairview shopping centers,BIG yard, Formal living and dining, Master down with 3 bedroom and game room upstairs, beautiful study with french doors downstairs as well.

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
 

$298,710$365,090$331,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,225
Property Tax -$639
Property Insurance -$164
HOA -$29
Property Management Fees -$99
CASH FLOW
-$56

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.

$331,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.1%
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$12k

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$93,704

INVESTMENT

$93,704

Down Payment
$82,975
Rehab Estimate
$5,750
Closing Costs
$4,979

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,225

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,975
Loan Amount $248,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,954

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,097

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,1004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 447 Saint Andrews Drive Allen, TX 3
    • 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 1205 Fox Trail Drive Allen, TX 1
    • 4 beds 2 baths ∙ 2,183 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,183 Sqft ∙ Built 2006
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 435 Spring Air Drive Allen, TX 2
    • 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 4
    • 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
    •  
  • 1402 Sunshine Drive Allen, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Ram Konara
Starpro Realty Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463456
Last Updated: 10/31/2020
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