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856 Falcon Trace Drive Allen, TX 75013

4 Beds 4 Baths 3,307 sqft Built 2010

$575,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $173.87
  • 3 Days on Market
  • MLS # : 14526873
  • Updated Date : 03/06/2021 at 17:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,307 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. All offers submitted by Sunday midnight will be presented to sellers on Monday. Gorgeous and highly upgraded 4-3.1-2 home in popular Starcreek, and Allen ISD! Incredible outdoor living space with fireplace, grill, electric driveway gate with extended driveway, hot tub, and more! Hardwood floors throughout common areas, granite counter tops, media and game room upstairs, remodeled master bathroom, remodeled kitchen, turf backyard, and move-in ready! Close to Allen & Fairview shopping, restaurants, outlet mall, and Top Golf.

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: 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

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,997
Property Tax -$1,107
Property Insurance -$218
HOA -$80
Property Management Fees -$99
CASH FLOW
-$701

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

$2,800

PROJECTED RENT

0.49%

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 75% 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

0.25

YEARS SAVED

$113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,794

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$3,0004$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 856 Falcon Trace Drive Allen, TX 2
    • 4 beds 4 baths ∙ 3,307 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,307 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
  • 2235 Morning Dew Court Allen, TX 1
    • 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
    •  
  • 2354 Hedgewood Lane Allen, TX 3
    • 4 beds 4 baths ∙ 3,647 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,647 Sqft ∙ Built 2008
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $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
Carol Smith
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526873
Last Updated: 03/06/2021
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