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808 Sterling Court Allen, TX 75002

4 Beds 3 Baths 2,546 sqft Built 1996

$335,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $131.58
  • 2 Days on Market
  • MLS # : 14536901
  • Updated Date : 03/20/2021 at 10:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

The sellers started their family in this home and have nurtured and cared for it. The Livingroom is large and shaped well for furniture. The kitchen is spacious and has plenty of cabinet space with an island. Great walk-in pantry. Very Spacious Bedrooms. Master suite features a fireplace and a garden tub with separate shower, includes his and hers sinks and custom closet. The large back-covered patio is fantastic for entertaining or as an evening retreat. The Sellers updated this home as they enjoyed living in it. New carpet, removal of popcorn ceilings, new light fixtures, kid-safe electrical outlets, hand-scraped hardwood floors, and master bath. Walking Trails start at end of the Street.

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: Cottonwood Bend Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Cottonwood Bend Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11242213

* 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,164
Property Tax -$645
Property Insurance -$174
Property Management Fees -$99
CASH FLOW
-$62

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.

$335,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,782

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,170

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,020
1$2,0202$2,1503$2,2504$2,2505$2,350
$2,350
RENT COMPS ANALYSIS
  • 808 Sterling Court Allen, TX 1
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.79
    •  
  • 812 Wind Elm Drive Allen, TX 2
    • 4 beds 4 baths ∙ 2,717 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,717 Sqft ∙ Built 1997
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.79
    •  
  • 821 Weeping Willow Court Allen, TX 3
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1995
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
  • 1403 Red Tip Allen, TX 4
    • 4 beds 3 baths ∙ 2,726 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,726 Sqft ∙ Built 1996
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 816 Sterling Court Allen, TX 5
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1996
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jillian Zhorne
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536901
Last Updated: 03/20/2021
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