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815 Charter Oak Street Allen, TX 75002

4 Beds 2 Baths 1,812 sqft Built 1989

$284,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $157.23
  • 4 Days on Market
  • MLS # : 14466232
  • Updated Date : 11/19/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,812 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

Cute 4 bedroom home in a great neighborhood! Near elementary, middle school, city pool - All on the walking & biking trail path! Updates include luxury wood look vinyl planks and carpet in 2020 and master bath frameless shower! Formal dining with bay window can be office! Big family room with corner fireplace! 12 x12 title in kitchen and nook! Kitchen with gas range,5 burners,can lights! Big master with view of back yard! Master bath with updated frameless shower,jetted garden tub,2 sinks,medicine cabinet,linen & walk in closets! One bedrm has a bay window! 2nd bath with a med cabinet! Huge utility room with built-in cabinets and exterior door to patio! Nice size back yard! 12 x 11 wood deck! Shed to remain!

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

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: Cottonwood Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10862213

* 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
Vaughan Elementary School Primary Regular 508 35 9
Ford Middle School Middle Regular 877 55 9
Ford Middle School High Regular 877 55 9

Vaughan Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 35
9
GreatSchools Rating

Ford Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating

Ford Middle School

  • Education Level: High
  • # of students: 877
  • # of teachers: 55
9
GreatSchools Rating
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,051
Property Tax -$548
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
-$131

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.

$284,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
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$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,725

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,789

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8004$1,8755$1,900
$1,900
RENT COMPS ANALYSIS
  • 815 Charter Oak Street Allen, TX 1
    • 4 beds 2 baths ∙ 1,812 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,812 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 1101 Harvard Lane Allen, TX 2
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1994
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 708 Deep Well Drive Allen, TX 3
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1986
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 806 Weeping Willow Court Allen, TX 4
    • 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 1995
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.99
    •  
  • 920 Blackstone Drive Allen, TX 5
    • 4 beds 3 baths ∙ 1,989 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,989 Sqft ∙ Built 1990
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
PROPERTY LISTING DETAILS
James Tan
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466232
Last Updated: 11/19/2020
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