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607 White Oak Street Allen, TX 75002

3 Beds 2 Baths 1,450 sqft Built 1986

$259,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $179.24
  • 7 Days on Market
  • MLS # : 14479377
  • Updated Date : 12/09/2020 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

T. Custom Realty

Listing Agent's Description

Great spacious starter home in highly sought after Cottonwood Bend community in the Exemplary Allen ISD! No HOA! This is a Must See for the price! Some updates include; Wood floors thru out the house and granite counter tops, Cedar Wood 8' fence and roof 2016. For energy efficiency, house has a double pane windows and plumbed for Gas behind the Electric cook top and behind the Dryer. Seller feels the home square footage is bigger than what is on the tax record of 1,328'. Don't let the square feet fool you, house is spacious enough to fit a queen size beds in the secondary bedrooms. Seller willing to work with buyers that are using TSAHC 3 to 5% down payment assistance program forgivable after 3 years.

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: Cottonwood Bend North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Cottonwood Bend North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10942213

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$959
Property Tax -$500
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
-$139

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.

$259,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,523

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5303$1,5504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 607 White Oak Street Allen, TX 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.06
    •  
  • 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
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.05
    •  
  • 521 White Oak Street Allen, TX 3
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1981
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
  • 605 Willow Oak Drive Allen, TX 4
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1987
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 620 Willow Oak Drive Allen, TX 5
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1988
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.06
    •  
PROPERTY LISTING DETAILS
Fikru Tadesse
T. Custom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479377
Last Updated: 12/09/2020
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