Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1104 Colmar Drive Plano, TX 75023

3 Beds 2 Baths 1,636 sqft Built 1982

$270,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $165.04
  • 3 Days on Market
  • MLS # : 14477695
  • Updated Date : 11/27/2020 at 13:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,636 sqft
  • Baths : 2 full
Listing Agent

Novus Real Estate

Listing Agent's Description

Beautiful 3 bedroom house with office that can be the 4th bedroom. Two back yards - one original in the back and one additional on the east side with deck. Located at the cul de sac turn. Complete sun room with window AC. New Granite countertop. Relatively new roof, AC unit, and some kitchen appliances. Large family room with Vaulted Ceiling and open to kitchen. Lots of cabinet space in kitchen and breakfast bar.

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

Neighborhood: Imperial Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k370k

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

Neighborhood: Imperial Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10162224

* 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
Thomas Elementary School Primary Regular 617 53 3
Carpenter Middle School Middle Regular 722 58 5
Plano Senior High School High Regular 2,766 155 9

Thomas Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 53
3
GreatSchools Rating

Carpenter Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 58
5
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

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

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$996
Property Tax -$459
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
$4

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$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 55% 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

5.08

YEARS SAVED

$16,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,7504$1,8405$1,850
$1,850
RENT COMPS ANALYSIS
  • 1104 Colmar Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.03
    •  
  • 1120 Colmar Drive Plano, TX 2
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1982
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 1105 Colmar Drive Plano, TX 3
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1982
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 1213 Seabrook Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1981
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.05
    •  
  • 1217 Seabrook Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1981
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
James Su
Novus Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477695
Last Updated: 11/27/2020
BESbswy