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613 Castleford Drive Allen, TX 75013

3 Beds 2 Baths 2,009 sqft Built 1999

$327,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $163.22
  • 3 Days on Market
  • MLS # : 14477570
  • Updated Date : 11/27/2020 at 16:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,009 sqft
  • Baths : 2 full
Listing Agent

Lennie Nicholson, Independent

Listing Agent's Description

Open floor plan with vaulted ceilings in the family room that flow into the kitchen, facing East with big windows. Entertain in open living and dining room for those special moments. Owner's retreat boasts vaulted ceiling and relaxing nook for added privacy while offering a spa like escape with Jacuzzi waterfall tub and walk in shower. And don't forget the Texas-sized walk-in closet to complete the master suite. Updated throughout, home feels almost brand new. Beautiful custom flooring, new carpet and paint throughout with modern updates, architectural details and huge skylights offer a light and bright home with low maintenance landscaping. Short 100 yard walk to excellent elementary Plano school.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Custer Hill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Custer Hill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11012213

* 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
Beverly Elementary School Primary Regular 488 39 10
Hendrick Middle School Middle Regular 800 51 7
Plano Senior High School High Regular 2,766 155 9

Beverly Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 39
10
GreatSchools Rating

Hendrick Middle School

  • Education Level: Middle
  • # of students: 800
  • # of teachers: 51
7
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$295,110$360,690$327,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,210
Property Tax -$631
Property Insurance -$143
HOA -$35
Property Management Fees -$99
CASH FLOW
-$209

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.

$327,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,644

INVESTMENT

$92,644

Down Payment
$81,975
Rehab Estimate
$5,750
Closing Costs
$4,919

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,975
Loan Amount $245,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,899

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8953$1,8954$1,8955$1,910
$1,910
RENT COMPS ANALYSIS
  • 613 Castleford Drive Allen, TX 5
    • 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.95
    •  
  • 535 Castleford Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 1998
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 2004 Saint Anne Drive Allen, TX 2
    • 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 1999
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 2050 Saint Anne Drive Allen, TX 3
    • 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 1999
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 2017 Wimbledon Drive Allen, TX 4
    • 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 2000
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
PROPERTY LISTING DETAILS
Lennie Nicholson
Lennie Nicholson, Independent
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477570
Last Updated: 11/27/2020
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