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1328 Colmar Drive Plano, TX 75023

4 Beds 2 Baths 1,756 sqft Built 1982

$289,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $164.58
  • 3 Days on Market
  • MLS # : 14512830
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,756 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-coit

Listing Agent's Description

Updated, single story home in desirable West Plano! Pretty drive up and fresh landscaping! Inside are 3 bedrooms, 2 baths, spacious great room, dining and sunroom! Out back is pool sized, flat backyard! Numerous recent updates include, granite, backsplash, painted cabinets in kitchen, carpet, flooring and paint! Move-in ready!

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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,004
Property Tax -$492
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
$47

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.

$289,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.61%

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$12k

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$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,813

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7704$1,7755$1,795
$1,795
RENT COMPS ANALYSIS
  • 1328 Colmar Drive Plano, TX 3
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.01
    •  
  • 1313 Coffeyville Trail Plano, TX 1
    • 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
    •  
  • 1401 Coffeyville Trail Plano, TX 2
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1978
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.09
    •  
  • 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
Pamela Lewis
Ebby Halliday, Realtors-coit
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512830
Last Updated: 02/05/2021
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