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1007 Colony Drive Greenville, TX 75402

4 Beds 2 Baths 2,275 sqft Built 2010

$289,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $127.43
  • 1 Days on Market
  • MLS # : 14532600
  • Updated Date : 03/13/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,275 sqft
  • Baths : 2 full
Listing Agent

Century 21 First Group

Listing Agent's Description

Charming four bedroom home located on large privacy fenced lot with easy access to I-30. When you walk in the front door immediately to your right is the formal dining room and hallway to the guest bedrooms and bath. As you step further in you find a very open floor plan with spacious living room overlooking the backyard, kitchen with walk in pantry, built in microwave, cooktop, oven, dishwasher and breakfast nook. Master is off living room and offers separate tub and shower and nice sized walk in closet. All of this plus a covered back patio makes this home perfect for family, entertaining and everything else that goes with it!

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: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Travis Elementary School Primary Regular 356 26 3
6th Grade Center Middle Regular 318 25 3
Greenville High School High Regular 1,077 89 5

Travis Elementary School

  • Education Level: Primary
  • # of students: 356
  • # of teachers: 26
3
GreatSchools Rating

6th Grade Center

  • Education Level: Middle
  • # of students: 318
  • # of teachers: 25
3
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,007
Property Tax -$652
Property Insurance -$159
HOA -$8
Property Management Fees -$99
CASH FLOW
-$215

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.

$289,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,367

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6503$1,7104$1,800
$1,800
RENT COMPS ANALYSIS
  • 1007 Colony Drive Greenville, TX 3
    • 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.75
    •  
  • 139 Toma Hawk Drive Greenville, TX 1
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2004
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.72
    •  
  • 1116 Colony Drive Greenville, TX 2
    • 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 2015
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 610 Alderwood Court Greenville, TX 4
    • 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2017
    property image
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Holly Gray
Century 21 First Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532600
Last Updated: 03/13/2021
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