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7 Buchanan Place Allen, TX 75002

3 Beds 3 Baths 1,569 sqft Built 1988

$234,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $149.71
  • 3 Days on Market
  • MLS # : 14500420
  • Updated Date : 01/16/2021 at 22:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,569 sqft
  • Baths : 2 full , 1 half
Listing Agent

Matsushita Realty

Listing Agent's Description

*Multiple offers received. Best & final by 6pm Sun Jan. 17.* Cozy 3 bedroom, 2.5 bath, oversized 1 car garage home with screened-in sun room that overlooks the city maintained greenbelt! New carpets throughout and new SPC floor in master bathroom, Huge master suite with window seat and Texas bath with dual sinks, a tub and separate shower. Lots of natural light, spacious living dining area, elegant marble tile fireplace, high ceilings, walk-in closets in all bedrooms, ceiling fans, granite counter top in kitchen, low maintenance yard, gutters and more. Conveniently located close to I-75, shopping and major employers.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Collin Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $97k372k

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

Neighborhood: Collin Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8712213

* 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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$816
Property Tax -$452
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
$225

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.

$234,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 13.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$30,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,698

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,5954$1,6005$1,710
$1,710
RENT COMPS ANALYSIS
  • 7 Buchanan Place Allen, TX 5
    • 3 beds 3 baths ∙ 1,569 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,569 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.09
    •  
  • 18 Buchanan Place Allen, TX 1
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1992
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.13
    •  
  • 1503 Collin Drive Allen, TX 2
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1989
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 548 Guadalupe Drive Allen, TX 3
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1985
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.12
    •  
  • 1517 Collin Drive Allen, TX 4
    • 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1993
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
PROPERTY LISTING DETAILS
Akiko Ramdenbourg
Matsushita Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500420
Last Updated: 01/16/2021
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