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1526 Colgate Drive Van Alstyne, TX 75495

4 Beds 2 Baths 2,038 sqft Built 2005

$299,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $146.71
  • 5 Days on Market
  • MLS # : 14521526
  • Updated Date : 03/03/2021 at 17:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,038 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Summer is coming and this home has the pool for it! This cute 4 bed 2 bath home sits in Van Alstyne ISD. Come see the large corner lot with a pool, large shed, nice patio, and extra room to play. The master bedroom is very spacious with an additional nook. The home is conveniently located close to highway 75 and is a short drive to either the DFW area or Sherman and Denison. Don't miss out on your chance to own this wonderful home with a retreat backyard.

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

Zip Code: 75495

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $65k239k

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

Zip Code: 75495

No Data Available.

* 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
Van Alstyne Elementary School Primary Regular 545 35 6
Van Alstyne High School High Regular 447 31 7

Van Alstyne Elementary School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 35
6
GreatSchools Rating

Van Alstyne High School

  • Education Level: High
  • # of students: 447
  • # of teachers: 31
7
GreatSchools Rating
 

$269,100$328,900$299,000

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 -$1,039
Property Tax -$706
Property Insurance -$138
HOA -$40
Property Management Fees -$99
CASH FLOW
-$272

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.

$299,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$91

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
  • $0.86

    LIST RENT PER SQFT
  • $1,875

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,7504$1,7955$1,900
$1,900
RENT COMPS ANALYSIS
  • 1526 Colgate Drive Van Alstyne, TX 3
    • 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 1508 Syracuse Drive Van Alstyne, TX 1
    • 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 2005
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 504 Bryn Mawr Lane Van Alstyne, TX 2
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014
    property image
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 1517 Greenbrier Drive Van Alstyne, TX 4
    • 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 1717 Beasley Street Van Alstyne, TX 5
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2018
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
PROPERTY LISTING DETAILS
John Weaver
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521526
Last Updated: 03/03/2021
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