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2304 Barton Creek Boulevard The Colony, TX 75056

4 Beds 4 Baths 4,066 sqft Built 2018

$730,000

List Price

$3,780

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $179.54
  • 3 Days on Market
  • MLS # : 14505111
  • Updated Date : 01/23/2021 at 10:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,066 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fowler Real Estate Group, Llc

Listing Agent's Description

Beautiful private creek lot in the incredible Austin Waters. Gourmet kitchen with custom cabinetry, farm sink, spacious island, Quartz countertops, commercial grade ss appliances! Master bed with bay window, gorgeous master bath with large walk in closets. FULL 3 car garage! Theatre room with built in dry bar, game room and 2 Large beds upstairs. Custom builds throughout. Custom Wine cellar. In law suit with private access to terrace. Backyard overlooking the creek, built in outdoor kitchen. Upscale finishes: extensive hardwoods first floor, upgraded fireplace, custom window treatments, Nest doorbell & security systems. Quick access to Arbor Hills Nature Preserve, 121,DNT,Legacy West, restaurants & shopping.

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: Austin Ranch

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Neighborhood: Austin Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263108

* 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
Hicks Elementary School Primary Regular 615 43 9
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Hicks Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 43
9
GreatSchools Rating

Arbor Creek Middle School

  • Education Level: Middle
  • # of students: 894
  • # of teachers: 59
8
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$657,000$803,000$730,000

PURCHASE PRICE

$3,402$4,158$3,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,780
EXPENSES Loan Payment -$2,536
Property Tax -$1,396
Property Insurance -$262
HOA -$262
Property Management Fees -$99
CASH FLOW
-$775

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.

$730,000

PROJECTED PRICE

$3,780

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 1.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$199,200

INVESTMENT

$199,200

Down Payment
$182,500
Rehab Estimate
$5,750
Closing Costs
$10,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,536

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,500
Loan Amount $547,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$472

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,780

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $3,588

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$3,450
1$3,4502$3,4953$3,7004$3,7505$3,780
$3,780
RENT COMPS ANALYSIS
  • 2304 Barton Creek Boulevard The Colony, TX 5
    • 4 beds 4 baths ∙ 4,066 Sqft ∙ Built 2018 4 beds 4 baths ∙ 4,066 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,780
    • $0.93
    •  
  • 6624 Shadow Rock Drive Plano, TX 1
    • 4 beds 4 baths ∙ 3,956 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,956 Sqft ∙ Built 2005
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $0.87
    •  
  • 6401 Stillwater Lane Plano, TX 2
    • 5 beds 4 baths ∙ 4,197 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,197 Sqft ∙ Built 2003
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.83
    •  
  • 2308 Cardinal Boulevard Carrollton, TX 3
    • 5 beds 6 baths ∙ 4,025 Sqft ∙ Built 2011 5 beds 6 baths ∙ 4,025 Sqft ∙ Built 2011
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.92
    •  
  • 7040 Falling Water Lane Plano, TX 4
    • 5 beds 4 baths ∙ 4,129 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,129 Sqft ∙ Built 2004
    property image
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $0.91
    •  
PROPERTY LISTING DETAILS
Alyssa Helfert
Fowler Real Estate Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505111
Last Updated: 01/23/2021
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