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2632 Walnut Creek Lane The Colony, TX 75056

4 Beds 3 Baths 3,220 sqft Built 2015

$525,000

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $163.04
  • 2 Days on Market
  • MLS # : 14477115
  • Updated Date : 11/28/2020 at 16:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,220 sqft
  • Baths : 3 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

Great location. Stunning home! Freshly painted house. You'll love the open concept kitchen, large master bedroom, and family room. Features a large island, an abundance of cabinet space, and brand new gas cooktop. Floor to ceiling windows, vaulted ceilings, as well as wood floors throughout the entire downstairs living areas. Upstairs there are 2 spacious bedrooms, 3 full bathrooms, and media room that is perfect for a family movie night. Whether it’s barbecuing, jogging on the scenic trail, homeowners can maintain a social and active lifestyle. Located near the N. Dallas Toll, Austin Waters is conveniently located.

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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$1,937
Property Tax -$1,004
Property Insurance -$213
HOA -$91
Property Management Fees -$99
CASH FLOW
-$275

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.

$525,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $3,317

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0703$3,3004$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 2632 Walnut Creek Lane The Colony, TX 2
    • 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $0.95
    •  
  • 3232 Prestonwood Drive Plano, TX 1
    • 3 beds 4 baths ∙ 2,965 Sqft ∙ Built 1997 3 beds 4 baths ∙ 2,965 Sqft ∙ Built 1997
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.98
    •  
  • 2660 Barton Creek Boulevard The Colony, TX 3
    • 4 beds 4 baths ∙ 3,505 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,505 Sqft ∙ Built 2016
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.94
    •  
  • 2161 Balcones Drive Carrollton, TX 4
    • 4 beds 3 baths ∙ 3,089 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,089 Sqft ∙ Built 2016
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.10
    •  
  • 2533 Sandy Creek Lane The Colony, TX 5
    • 5 beds 4 baths ∙ 3,196 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,196 Sqft ∙ Built 2016
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.10
    •  
PROPERTY LISTING DETAILS
Christian Martinez
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477115
Last Updated: 11/28/2020
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