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1104 Colony Drive Greenville, TX 75402

4 Beds 3 Baths 2,753 sqft Built 2016

$306,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $111.15
  • 2 Days on Market
  • MLS # : 14471416
  • Updated Date : 11/14/2020 at 12:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,753 sqft
  • Baths : 2 full , 1 half
Listing Agent

Brg & Associates

Listing Agent's Description

Wonderful home with easy access to I-30, restaurants, and shopping. This home offers an open floor plan with a large living room, a kitchen showcasing granite counters with walk-in pantry, dining room, and the home also has a study. The master bedroom room is on one side of the home with the master bath which features a large shower, garden tub and walk in closets. On the other side of the home are three downstairs bedrooms and a bathroom. Upstairs there is a game room, media room, and a half bath.

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

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
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Travis Elementary School

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

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

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

$275,400$336,600$306,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,129
Property Tax -$688
Property Insurance -$186
HOA -$8
Property Management Fees -$99
CASH FLOW
-$451

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.

$306,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.54%

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,840

INVESTMENT

$86,840

Down Payment
$76,500
Rehab Estimate
$5,750
Closing Costs
$4,590

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,500
Loan Amount $229,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$21

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6953$1,950
$1,950
RENT COMPS ANALYSIS
  • 1104 Colony Drive Greenville, TX 1
    • 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.60
    •  
  • 6518 Ashland Drive Greenville, TX 2
    • 5 beds 3 baths ∙ 2,826 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,826 Sqft ∙ Built 2006
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.60
    •  
  • 1115 Seminole Lane Greenville, TX 3
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2009
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
PROPERTY LISTING DETAILS
Cory Prevost
Brg & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471416
Last Updated: 11/14/2020
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