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1025 Colony Street Flower Mound, TX 75028

3 Beds 2 Baths 1,653 sqft Built 1986

$270,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $163.34
  • 3 Days on Market
  • MLS # : 14488275
  • Updated Date : 12/18/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,653 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Come see this tastefully updated single story home in the heart of Flower Mound! This home has been remodeled with new flooring and fresh paint through out. The open concept floor plan features an updated kitchen with brilliant white cabinetry, stainless steel appliances and gas cooktop open to the family room and breakfast nook. The master bedroom is oversized and the master bathroom features separate tub and shower with walk in closet. Relax on your patio in your private backyard. Only a few houses down from Colony Park and very close to shopping and entertainment. Excellent schools make this home the perfect fit. There is an existing lease in place until January of 2022.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Prairie Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $121k402k

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

Neighborhood: Prairie Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10772573

* 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
Timber Creek Elementary School Primary Regular 470 32 8
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Timber Creek Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 32
8
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 51
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$996
Property Tax -$466
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$66

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.

$270,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$22,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,752

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8254$1,8505$1,975
$1,975
RENT COMPS ANALYSIS
  • 1025 Colony Street Flower Mound, TX 1
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 1046 Colony Street Flower Mound, TX 2
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 1986
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 1456 Sedalia Drive Flower Mound, TX 3
    • 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 1986
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.10
    •  
  • 1433 Sedalia Drive Flower Mound, TX 4
    • 3 beds 3 baths ∙ 1,790 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,790 Sqft ∙ Built 1987
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 1333 Superior Drive Flower Mound, TX 5
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1993
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.07
    •  
PROPERTY LISTING DETAILS
Alexa Goodman
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488275
Last Updated: 12/18/2020
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