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533 Teton Street Allen, TX 75002

3 Beds 3 Baths 1,767 sqft Built 2018

$360,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $203.74
  • 5 Days on Market
  • MLS # : 14521297
  • Updated Date : 02/26/2021 at 11:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,767 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jones-papadopoulos & Co

Listing Agent's Description

Bright, open floorplan by Megatel with stainless steal appliances, quartz countertops and subway tile backsplash are just some of the outstanding qualities of this townhome in Allen ISD. Take advantage of the high ceiling that this floorplan offers in the living area and ease of movement throughout and high windows bringing in tons of natural light on this south facing property. The master features duel sinks and walk-in shower with all the updated gray color schemes. Laundry conveniently located on the second floor and then the two split bedrooms are towards the rear of the unit. Private fenced backyard which is rare for a townhome and perfectly located on the corner of Main and Greenville Ave.

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

Zip Code: 75002

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Zip Code: 75002

ZipNIR 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
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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,250
Property Tax -$693
Property Insurance -$129
HOA -$100
Property Management Fees -$99
CASH FLOW
-$392

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.

$360,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.52%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8804$1,9755$2,000
$2,000
RENT COMPS ANALYSIS
  • 533 Teton Street Allen, TX 3
    • 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.06
    •  
  • 803 Rockefeller Lane Allen, TX 1
    • 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 2003
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 816 Westminister Avenue Allen, TX 2
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1998
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 1114 Shady Brook Drive Allen, TX 4
    • 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 2002
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.93
    •  
  • 1202 Meadowbend Court Allen, TX 5
    • 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 1998
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
John Papadopoulos
Jones-papadopoulos & Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521297
Last Updated: 02/26/2021
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