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501 Stretford Lane Allen, TX 75002

3 Beds 3 Baths 2,004 sqft Built 1997

$299,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $149.65
  • 5 Days on Market
  • MLS # : 14459862
  • Updated Date : 11/07/2020 at 15:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,004 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

Spacious corner lot within walking distance to nearby parks with small lakes and trails and Joe Farmer Recreation Center. Open floor plan with two-story vaulted ceilings, master bedroom downstairs, two bedrooms and game room up. Engineered wood flooring in den and dining room. Sliding barn doors on bathrooms. Entertain friends and family in large backyard with flagstone patio, fireplace, smoker pit and built in grill surrounded by BOB wood fence for privacy and mature trees for added beauty. Allen ISD, established community in a great location!

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: Shadow Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Shadow Lakes

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
Story Elementary School Primary Regular 533 37 9
Ford Middle School Middle Regular 877 55 9
Ford Middle School High Regular 877 55 9

Story Elementary School

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 37
9
GreatSchools Rating

Ford Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating

Ford Middle School

  • Education Level: High
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating
 

$269,910$329,890$299,900

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 -$1,107
Property Tax -$577
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
-$66

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.

$299,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,850

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
  • $1,894

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8603$1,8954$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 501 Stretford Lane Allen, TX 2
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.93
    •  
  • 1113 Easton Allen, TX 1
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1993
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 503 Cameron Allen, TX 3
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 514 Bullingham Lane Allen, TX 4
    • 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 1995
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 628 Stretford Lane Allen, TX 5
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1995
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Steven Robin
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459862
Last Updated: 11/07/2020
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