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700 Cheyenne Drive Allen, TX 75002

4 Beds 3 Baths 2,762 sqft Built 1998

$384,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $139.03
  • 1 Days on Market
  • MLS # : 14531198
  • Updated Date : 03/13/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,762 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wakeland Real Estate

Listing Agent's Description

RARE .18 acre cul de sac lot that also borders a small greenbelt area with only two homes on the cul de sac ** No traffic and plenty of outdoor space for kids to play ** This is one of the larger homes in the area with 4 very large bedrooms. Great backyard w covered patio and high wood fence ** Four covered parking slots with a 2 car garage and 2 car welded steel frame carport ** First floor living room could be used for office or exercise, separate dining, large family room with corner raised brick fireplace and open concept kitchen ** All hard surface flooring on first floor ** No HOA, close to schools, park and shopping ** SEE Intra Office remarks for seller name to be put in all offers.

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: Bethany Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Bethany Creek Estates

NeighborhoodNIR 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
Lowery Freshman Center High Regular 1,571 104 8
Allen High School High Unknown NA
Lowery Freshman Center High Unknown NA

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating

Allen High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$345,600$422,400$384,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,334
Property Tax -$739
Property Insurance -$187
Property Management Fees -$99
CASH FLOW
-$229

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.

$384,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.4%
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-$8.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,510

INVESTMENT

$107,510

Down Payment
$96,000
Rehab Estimate
$5,750
Closing Costs
$5,760

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,334

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,000
Loan Amount $288,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,964

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,147

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0753$2,1004$2,1305$2,395
$2,395
RENT COMPS ANALYSIS
  • 700 Cheyenne Drive Allen, TX 4
    • 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.77
    •  
  • 1509 Appalachian Drive Allen, TX 1
    • 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2000
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 1311 Normandy Lane Allen, TX 2
    • 4 beds 5 baths ∙ 2,843 Sqft ∙ Built 1999 4 beds 5 baths ∙ 2,843 Sqft ∙ Built 1999
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.73
    •  
  • 1530 Balboa Lane Allen, TX 3
    • 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2002
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 608 Herefordshire Lane Allen, TX 5
    • 4 beds 3 baths ∙ 2,867 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,867 Sqft ∙ Built 1994
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mark Wakeland
Wakeland Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531198
Last Updated: 03/13/2021
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