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2828 Montreaux The Colony, TX 75056

4 Beds 4 Baths 3,295 sqft Built 2018

INVESTimate

$549,950

List Price

$3,390

$3,140 - $3,640

Rent Est.

$598,181  ( +8.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $166.90
  • 8 Days on Market
  • MLS # : 14413492
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,295 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

Two-story custom beauty built by American Legend Homes. 4 beds, 2 located on the main floor include the master with en suite: separate vanities, built-in painted cabinets, frameless shower, garden tub and walk-in closet; guest suite with a full bath; plantation shutters, engineered hardwoods, cathedral ceilings, open plan gourmet kitchen with white painted cabinets, quartz counters, stainless steel appls: six-burner gas cooktop, built-in oven, microwave, island, walk-in pantry, dining, family room with fireplace and patio doors opening to the covered patio, upstairs media room, game room, and 2 bedrooms with walk-in closets. Outside you will enjoy the pool worthy lot, covered patio, 3-car garage.

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: 75056

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Zip Code: 75056

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Prestwick Stem Academy Primary Unknown 667 40 8
Prestwick Stem Academy Middle Unknown 667 40 8
Little Elm High School High Regular 1,866 97 6

Prestwick Stem Academy

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 40
8
GreatSchools Rating

Prestwick Stem Academy

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 40
8
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$494,955$604,945$549,950

PURCHASE PRICE

$3,051$3,729$3,390

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,390
EXPENSES Loan Payment -$2,029
Property Tax -$1,052
Property Insurance -$218
HOA -$100
Property Management Fees -$99
CASH FLOW
-$108

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.

$549,950

PROJECTED PRICE

$3,390

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.77%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,487

INVESTMENT

$151,487

Down Payment
$137,488
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,488
Loan Amount $412,463
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$21,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,390

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $3,386

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,195
1$3,1952$3,3003$3,3904$3,3955$3,500
$3,500
RENT COMPS ANALYSIS
  • 2828 Montreaux The Colony, TX 3
    • 4 beds 4 baths ∙ 3,295 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,295 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $1.03
    •  
  • 8321 Western The Colony, TX 1
    • 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 2019
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.02
    •  
  • 2832 London The Colony, TX 2
    • 4 beds 4 baths ∙ 3,337 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,337 Sqft ∙ Built 2018
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.99
    •  
  • 2940 Broughton The Colony, TX 4
    • 4 beds 4 baths ∙ 3,477 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,477 Sqft ∙ Built 2017
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.98
    •  
  • 2837 Waverly The Colony, TX 5
    • 4 beds 4 baths ∙ 3,135 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,135 Sqft ∙ Built 2017
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.12
    •  
PROPERTY LISTING DETAILS
Rachael Hill
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413492
Last Updated: 08/20/2020
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