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1317 Colmar Drive Plano, TX 75023

4 Beds 2 Baths 1,636 sqft Built 1982

$300,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $183.37
  • 3 Days on Market
  • MLS # : 14494699
  • Updated Date : 01/15/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,636 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Spotless, impeccable, conscientiously & lovingly maintained and oh such a wonderful home! This beautiful 4 bedroom, 2 bath home WITH A POOL (that was resurfaced in 2012) is everything you're looking for! See the list of updates in the home or online that have been done over the years. If it needed to be done, it has been done :-) All electric home. Beautiful Wagon Wheel Park close by for family enjoyment. Coveted PISD! NO POPCORN CEILINGS!

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: 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
 

$270,000$330,000$300,000

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 -$1,042
Property Tax -$510
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$23

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.

$300,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.58%

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-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,823

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
  • $1.07

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,7504$1,7755$1,795
$1,795
RENT COMPS ANALYSIS
  • 1317 Colmar Drive Plano, TX 3
    • 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
  • 1225 Glyndon Drive Plano, TX 1
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1982
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 1313 Coffeyville Trail Plano, TX 2
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1978
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 1325 Glyndon Drive Plano, TX 4
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1982
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.01
    •  
  • 1309 Seabrook Drive Plano, TX 5
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1982
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
PROPERTY LISTING DETAILS
Sue Nelms
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494699
Last Updated: 01/15/2021
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