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901 Pelican Drive Allen, TX 75013

5 Beds 3 Baths 3,039 sqft Built 2008

$419,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $137.87
  • 2 Days on Market
  • MLS # : 14470679
  • Updated Date : 11/14/2020 at 01:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,039 sqft
  • Baths : 3 full
Listing Agent

Fathom Realty

Listing Agent's Description

Stunning and immaculate 5 bedroom, 3 bathroom home in Quail Run in west Allen! Across the street from neighborhood park and pool! Open floor plan with updated paint and light fixtures. RARE one and a half story with 3 beds down and 1 large game room plus 1 bedroom upstairs. Tons of storage in multiple closets and walk-in attic. New roof (2019), new landscaping and newly stained, 8 foot privacy wood fence (installed in 2017). Plantation shutters throughout. Engineered hardwood floors in main living areas downstairs. Large study with built in desk and shelving system. Conveniently located within walking distance to hiking and biking trails, restaurants and shopping!

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: Quail Run

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Quail Run

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
Boon Elementary School Primary Regular 770 47 10
Boon Elementary School Middle Regular 770 47 10
Lowery Freshman Center High Regular 1,571 104 8

Boon Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 47
10
GreatSchools Rating

Boon Elementary School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 47
10
GreatSchools Rating

Lowery Freshman Center

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

$377,100$460,900$419,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,546
Property Tax -$807
Property Insurance -$203
HOA -$50
Property Management Fees -$99
CASH FLOW
-$94

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.

$419,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.8%
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

PROJECTED ANNUAL CASH FLOW

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

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$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$14,796

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,576

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,6004$2,6105$2,650
$2,650
RENT COMPS ANALYSIS
  • 901 Pelican Drive Allen, TX 4
    • 5 beds 3 baths ∙ 3,039 Sqft ∙ Built 2008 5 beds 3 baths ∙ 3,039 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.86
    •  
  • 816 Cougar Drive Allen, TX 1
    • 4 beds 3 baths ∙ 2,970 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,970 Sqft ∙ Built 2009
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.79
    •  
  • 959 Cougar Drive Allen, TX 2
    • 4 beds 3 baths ∙ 3,236 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,236 Sqft ∙ Built 2010
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 1011 Hot Springs Drive Allen, TX 3
    • 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2008
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.90
    •  
  • 711 Hawk Drive Allen, TX 5
    • 4 beds 4 baths ∙ 2,861 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,861 Sqft ∙ Built 2017
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.93
    •  
PROPERTY LISTING DETAILS
Amy Carroll
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470679
Last Updated: 11/14/2020
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