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851 Blackwood Drive Allen, TX 75013

3 Beds 4 Baths 3,294 sqft Built 2009

$575,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $174.56
  • 4 Days on Market
  • MLS # : 14510749
  • Updated Date : 02/25/2021 at 09:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,294 sqft
  • Baths : 3 full , 1 half
Listing Agent

C21 Fine Homes Judge Fite

Listing Agent's Description

Stunning 1.5 Story w Pool & Spa Located in highly sought after STARCREEK in Allen ISD! Darling Built home w original owner, offers spacious floor plan w Wood Floors, Plantation Shutters .All 3 beds on first floor w 3 full baths. Study w french doors, Kitchen w granite counters, dbl ovens, breakfast bar & sep eating area. The Expansive master suite overlooks Pool & Spa. Master bath w walk in closet, dbl vanities, sep tub & shower. Gameroom & Media up w half bath. Media room includ big screen & projector. Covered Patio & Board on Board Fence. Starcreek is located min from Dining, Shops & Entertainment. Amenities includ Club House, Community Pool, Greenbelt, Jog-Bike Path, Park, Playground, Private Pond.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Starcreek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Starcreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Curtis Middle School Middle Regular 1,191 70 10
Lowery Freshman Center High Regular 1,571 104 8
Curtis Middle School Middle Unknown NA

Curtis Middle School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 70
10
GreatSchools Rating

Lowery Freshman Center

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

Curtis Middle School

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

$517,500$632,500$575,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,997
Property Tax -$1,107
Property Insurance -$218
HOA -$80
Property Management Fees -$99
CASH FLOW
-$801

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.

$575,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$57

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,742

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7903$2,8004$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 851 Blackwood Drive Allen, TX 1
    • 3 beds 4 baths ∙ 3,294 Sqft ∙ Built 2009 3 beds 4 baths ∙ 3,294 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.82
    •  
  • 923 Rosemoor Drive Allen, TX 2
    • 4 beds 4 baths ∙ 3,628 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,628 Sqft ∙ Built 2006
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.77
    •  
  • 2235 Morning Dew Court Allen, TX 3
    • 4 beds 4 baths ∙ 3,410 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,410 Sqft ∙ Built 2009
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.82
    •  
  • 2119 Spicewood Drive Allen, TX 4
    • 4 beds 3 baths ∙ 3,520 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,520 Sqft ∙ Built 2011
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.85
    •  
  • 854 Deerfield Road Allen, TX 5
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2009
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Terri Fox
C21 Fine Homes Judge Fite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510749
Last Updated: 02/25/2021
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