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527 Red Oak Street Allen, TX 75002

3 Beds 2 Baths 1,505 sqft Built 1981

$255,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $169.44
  • 4 Days on Market
  • MLS # : 14477539
  • Updated Date : 12/03/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,505 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

SPECTACULAR!!! Meticulously remodeled home in a quite and desirable neighborhood. Open and welcoming layout to suit all family needs. The home consists 3 bed and 2 full baths. Newly installed SS appliances, granite countertops, carpet in all bedrooms, porcelain tiles, decorative fixtures and much more. Decent sized backyard with wooden privacy fence for evening relaxation and entertainment. Freshly painted and professionaly cleaned. Close proximity to major freeways, shopping, dining and entertainment. Move in ready.

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: Oak Hill

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $95k372k

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

Neighborhood: Oak Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8272213

* 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
Boyd Elementary School Primary Regular 718 58 5
Ereckson Middle School Middle Regular 1,156 69 9
Lowery Freshman Center High Regular 1,571 104 8

Boyd Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 58
5
GreatSchools Rating

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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$941
Property Tax -$491
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
-$25

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,614

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5503$1,5954$1,6005$1,620
$1,620
RENT COMPS ANALYSIS
  • 527 Red Oak Street Allen, TX 5
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.08
    •  
  • 512 White Oak Street Allen, TX 1
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1981
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.05
    •  
  • 521 White Oak Street Allen, TX 2
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1981
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
  • 504 Scarlet Oak Drive Allen, TX 3
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1981
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
  • 507 White Oak Street Allen, TX 4
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1981
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
PROPERTY LISTING DETAILS
Shams Rangwala
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477539
Last Updated: 12/03/2020
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