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525 Seeport Drive Allen, TX 75013

3 Beds 3 Baths 2,646 sqft Built 2008

$499,000

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $188.59
  • 4 Days on Market
  • MLS # : 14515858
  • Updated Date : 02/13/2021 at 10:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,646 sqft
  • Baths : 3 full
Listing Agent

Fathom Realty

Listing Agent's Description

Waiting for the perfect Craftsman in the Park? Here it is. Corner lot-Cul De Sac minutes from shopping and eateries at Watters Creek! Location location! Master + 2 beds and 2 full baths w-study on first level. Lg game room and 3rd full bath up that could be 4th bed or M-I-L suite! Master overlooks outdoor retreat w-heated pool-spa, landscaping, outdoor grill w-fridge! Adorable covered front porch-sip a soda and watch your child walk home from school! Gorgeous hardwoods grace living, dining, and study. Hand crafted stone fireplace and more upgrades. Open lt and bright kitchen with eat-in granite counters, freshly painted cabinets, stainless apps, gas cooktop, and double oven. Bring your most scrutinizing buyer!

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: The Park at Montgomery Farm

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: The Park at Montgomery Farm

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$1,733
Property Tax -$961
Property Insurance -$180
HOA -$79
Property Management Fees -$99
CASH FLOW
-$192

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.

$499,000

PROJECTED PRICE

$2,860

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,653

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5903$2,6004$2,6955$2,860
$2,860
RENT COMPS ANALYSIS
  • 525 Seeport Drive Allen, TX 5
    • 3 beds 3 baths ∙ 2,646 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,646 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $1.08
    •  
  • 1124 Belvedere Drive Allen, TX 1
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1995
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 1204 Bel Air Drive Allen, TX 2
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 1994
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.98
    •  
  • 1385 Elaine Drive Allen, TX 3
    • 3 beds 3 baths ∙ 2,548 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,548 Sqft ∙ Built 2020
    property image
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.02
    •  
  • 1303 Bailey Lane Allen, TX 4
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2018
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.06
    •  
PROPERTY LISTING DETAILS
Kate Kelsey
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515858
Last Updated: 02/13/2021
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