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744 Maxwell Creek Drive Allen, TX 75002

3 Beds 2 Baths 1,867 sqft Built 2006

$325,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $174.08
  • 2 Days on Market
  • MLS # : 14527255
  • Updated Date : 03/06/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,867 sqft
  • Baths : 2 full
Listing Agent

Hojaber Real Estate Group

Listing Agent's Description

Updated and well kept home in Allen within walking distance to The Orchard Park. This home features updated kitchen with SS appliances, gas range, granite countertops, No Carpet! All wood floors. Large family room with fireplace, spacious backyard with covered patio. Conveniently located near major hwys, parks & shopping centers. Don't miss on this cozy gem!!!!

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: The Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: The Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11212213

* 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,129
Property Tax -$626
Property Insurance -$135
HOA -$13
Property Management Fees -$99
CASH FLOW
-$201

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.

$325,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,867

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7504$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 744 Maxwell Creek Drive Allen, TX 5
    • 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 1529 Tanglewood Drive Allen, TX 1
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2000
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 731 Eagle Lake Court Allen, TX 2
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2001
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 1610 Balboa Lane Allen, TX 3
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2005
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 1528 Tanglewood Drive Allen, TX 4
    • 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2000
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
PROPERTY LISTING DETAILS
Mark Parwani
Hojaber Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527255
Last Updated: 03/06/2021
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