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921 Leola Lane Allen, TX 75013

4 Beds 4 Baths 3,511 sqft Built 2020

$620,301

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $176.67
  • 3 Days on Market
  • MLS # : 14512693
  • Updated Date : 02/04/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,511 sqft
  • Baths : 3 full , 1 half
Listing Agent

Colleen Frost Real Estate Serv

Listing Agent's Description

NORMANDY HOMES MAPLE floor plan. With a CLASSY Traditional elevation, this home boasts a lovely entry with elevated ceilings and rich wood flooring through out the first floor. An open concept floor plan designed to meet your lifestyle. You'll find 'must haves' such as a private study, 2 dining areas, a beautiful kitchen with gorgeous tile backsplash and an over sized island, a family room with high ceilings and the bonus of a modern style fireplace , a SPACIOUS owner's suite with an inviting 'free standing tub' to relax and soak your day away in! Upstairs you'll find 3 large bedrooms, game room with 'Kid's Retreat' and an additional computer work space. What more could you want? READY IN MAY.

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

Zip Code: 75013

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Zip Code: 75013

ZipNIR 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
Ereckson Middle School Middle Regular 1,156 69 9
Lowery Freshman Center High Regular 1,571 104 8
Ereckson Middle School Middle Unknown NA

Ereckson Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 69
9
GreatSchools Rating

Lowery Freshman Center

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

Ereckson Middle School

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

$558,271$682,331$620,301

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$2,155
Property Tax -$1,194
Property Insurance -$230
HOA -$125
Property Management Fees -$99
CASH FLOW
-$993

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$620,301

PROJECTED PRICE

$2,810

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 3.00%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$166,380

INVESTMENT

$166,380

Down Payment
$155,075
Rehab Estimate
$2,000
Closing Costs
$9,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,155

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,075
Loan Amount $465,226
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$44

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,800

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,8003$2,8104$2,9005$2,995
$2,995
RENT COMPS ANALYSIS
  • 921 Leola Lane Allen, TX 3
    • 4 beds 4 baths ∙ 3,511 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,511 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $0.80
    •  
  • 1059 Enchanted Rock Drive Allen, TX 1
    • 4 beds 3 baths ∙ 3,621 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,621 Sqft ∙ Built 2014
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.74
    •  
  • 1032 Margo Drive Allen, TX 2
    • 4 beds 4 baths ∙ 3,411 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,411 Sqft ∙ Built 2017
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.82
    •  
  • 1042 Enchanted Rock Drive Allen, TX 4
    • 4 beds 4 baths ∙ 3,682 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,682 Sqft ∙ Built 2014
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.79
    •  
  • 1230 Brenham Drive Allen, TX 5
    • 4 beds 4 baths ∙ 3,556 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,556 Sqft ∙ Built 2000
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.84
    •  
PROPERTY LISTING DETAILS
Carole Campbell
Colleen Frost Real Estate Serv
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512693
Last Updated: 02/04/2021
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