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1019 Colleton Lane Frisco, TX 75033

4 Beds 4 Baths 3,411 sqft Built 2004

$469,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $137.50
  • 3 Days on Market
  • MLS # : 14527331
  • Updated Date : 03/05/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,411 sqft
  • Baths : 3 full , 1 half
Listing Agent

Town Center Real Estate

Listing Agent's Description

Beautiful, super clean home with GREAT space. This home is so very inviting. Beautiful hardwood floors, tall ceilings, and huge windows that allow in natural light. Thoughtful open floor plan that is perfect for entertaining. The large cozy main family room has a modern gas burning fireplace. The kitchen has lots of counter space and storage. Beautiful custom oak cabinets. All of the bedrooms are spacious with generous closets. This home boasts 3 different living areas and 2 dining areas. The secondary bedrooms are upstairs along with a flexible living area. There is a 20x13 walk in storage room in addition to the 3411 Sq Ft. So many intangibles. It just feels like home. In sought after Wakeland High area.

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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: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
Wilma Fisher Elementary School Primary Regular 663 40 10
Robert Cobb Middle School Middle Regular 909 63 NA
Justin Wakeland High School High Regular 2,220 140 9

Wilma Fisher Elementary School

  • Education Level: Primary
  • # of students: 663
  • # of teachers: 40
10
GreatSchools Rating

Robert Cobb Middle School

  • Education Level: Middle
  • # of students: 909
  • # of teachers: 63
NA
GreatSchools Rating

Justin Wakeland High School

  • Education Level: High
  • # of students: 2,220
  • # of teachers: 140
9
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,629
Property Tax -$826
Property Insurance -$224
HOA -$33
Property Management Fees -$99
CASH FLOW
-$441

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.

$469,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,629

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,592

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,370
1$2,3702$2,4953$2,5004$2,5505$2,695
$2,695
RENT COMPS ANALYSIS
  • 1019 Colleton Lane Frisco, TX 1
    • 4 beds 4 baths ∙ 3,411 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,411 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.69
    •  
  • 9225 Prestwick Drive Frisco, TX 2
    • 4 beds 4 baths ∙ 3,348 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,348 Sqft ∙ Built 2004
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.75
    •  
  • 10097 Downbrook Drive Frisco, TX 3
    • 4 beds 4 baths ∙ 3,241 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,241 Sqft ∙ Built 2006
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 11178 Monarch Drive Frisco, TX 4
    • 5 beds 3 baths ∙ 3,589 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,589 Sqft ∙ Built 2005
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.71
    •  
  • 1022 Gold Camp Road Frisco, TX 5
    • 4 beds 3 baths ∙ 3,331 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,331 Sqft ∙ Built 2002
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.81
    •  
PROPERTY LISTING DETAILS
Debra Pettit
Town Center Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527331
Last Updated: 03/05/2021
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