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1075 Colony Street Flower Mound, TX 75028

3 Beds 2 Baths 1,459 sqft Built 1986

$252,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $172.72
  • 2 Days on Market
  • MLS # : 14467449
  • Updated Date : 11/07/2020 at 20:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,459 sqft
  • Baths : 2 full
Listing Agent

Sister Sell Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. HIGHEST AND BEST BY SUNDAY, NOV 8, AT 5 PM!! Welcome to 1075 Colony Street in desirous Flower Mound! This property has just over 1400 square feet and offers 3 bedrooms and 2 bathrooms. Shed in backyard offers extra storage.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$226,800$277,200$252,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$930
Property Tax -$435
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
$125

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.

$252,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.67%

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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,530

INVESTMENT

$72,530

Down Payment
$63,000
Rehab Estimate
$5,750
Closing Costs
$3,780

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$930

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,000
Loan Amount $189,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$27,325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,565

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,6754$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1075 Colony Street Flower Mound, TX 4
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.17
    •  
  • 5402 Gregory Drive Flower Mound, TX 1
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1983
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.07
    •  
  • 5212 Timber Creek Road Flower Mound, TX 2
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1983
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.07
    •  
  • 1319 Colony Court Flower Mound, TX 3
    • 3 beds 4 baths ∙ 1,538 Sqft ∙ Built 1984 3 beds 4 baths ∙ 1,538 Sqft ∙ Built 1984
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.09
    •  
  • 1025 Colony Street Flower Mound, TX 5
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1986
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Sarah Torno
Sister Sell Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467449
Last Updated: 11/07/2020
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