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925 Leola Lane Allen, TX 75013

4 Beds 4 Baths 4,150 sqft Built 2020

$654,651

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $157.75
  • 3 Days on Market
  • MLS # : 14512696
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,150 sqft
  • Baths : 3 full , 1 half
Listing Agent

Colleen Frost Real Estate Serv

Listing Agent's Description

NORMANDY HOMES SEQUOIA floor plan. Exquisite Traditional style exterior with stone accents. This beautiful open concept floor plan offers everything you want in a home! Private study, 2 dining areas, large kitchen with over sized island, family room with elevated ceilings and a cozy fireplace. Relax in the owner's suite which boasts high ceilings, comfy window seat and a spacious bathroom area. Upstairs you'll find 3 over sized bedrooms, large game room area and media. What a great place for family and friends to spend time together! You'll appreciate the nice backyard space as well as the 3 car tandem garage that will provide extra storage. This lovely home will be 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
 

$589,186$720,116$654,651

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$2,274
Property Tax -$1,260
Property Insurance -$267
HOA -$125
Property Management Fees -$99
CASH FLOW
-$845

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.

$654,651

PROJECTED PRICE

$3,180

PROJECTED RENT

0.49%

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$1.8M

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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,483

INVESTMENT

$175,483

Down Payment
$163,663
Rehab Estimate
$2,000
Closing Costs
$9,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,274

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $163,663
Loan Amount $490,988
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$73

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $3,227

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9503$3,1804$3,2005$3,400
$3,400
RENT COMPS ANALYSIS
  • 925 Leola Lane Allen, TX 3
    • 4 beds 4 baths ∙ 4,150 Sqft ∙ Built 2020 4 beds 4 baths ∙ 4,150 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $0.77
    •  
  • 956 Pheasant Drive Allen, TX 1
    • 4 beds 4 baths ∙ 3,884 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,884 Sqft ∙ Built 2004
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.73
    •  
  • 1509 Evanvale Drive Allen, TX 2
    • 5 beds 5 baths ∙ 3,981 Sqft ∙ Built 2008 5 beds 5 baths ∙ 3,981 Sqft ∙ Built 2008
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.74
    •  
  • 1021 Hot Springs Drive Allen, TX 4
    • 5 beds 4 baths ∙ 3,938 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,938 Sqft ∙ Built 2007
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.81
    •  
  • 2265 Wakefield Lane Allen, TX 5
    • 5 beds 5 baths ∙ 4,094 Sqft ∙ Built 2010 5 beds 5 baths ∙ 4,094 Sqft ∙ Built 2010
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.83
    •  
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 #: 14512696
Last Updated: 02/05/2021
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