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2833 London The Colony, TX 75056

4 Beds 5 Baths 3,381 sqft Built 2018

$569,900

List Price

$3,310

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $168.56
  • 6 Days on Market
  • MLS # : 14510768
  • Updated Date : 02/02/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,381 sqft
  • Baths : 4 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Gorgeous Full of Upgrades built by American Legends located in The Tribute Community! Gleaming Hardwood Floors cover most of the home's rooms. Plantation Shutters in front rooms & electric shades in back. Flexible floorplan with study, guest suite & master suite down. Grand living space with upgraded kit cabinetry package. Center island offers additional seating. Dining space over looks backyard with windows surrounding space. Upstairs enjoy gameroom space, media room & 2 bdrms (1 with private bath & 1 with shared bath). Enjoy your outdoors under your covered patio and enjoy some play in the backyard! Enjoy all the amenities of living on Lake Lewisville & The Tribute Community! See agent for list of Upgrades.

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 $123k336k

* 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
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

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

$512,910$626,890$569,900

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$1,979
Property Tax -$1,090
Property Insurance -$223
HOA -$100
Property Management Fees -$99
CASH FLOW
-$181

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.

$569,900

PROJECTED PRICE

$3,310

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.8%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,774

INVESTMENT

$156,774

Down Payment
$142,475
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,979

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,475
Loan Amount $427,425
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$13,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,310

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $3,339

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,3103$3,3504$3,3955$3,499
$3,499
RENT COMPS ANALYSIS
  • 2833 London The Colony, TX 2
    • 4 beds 5 baths ∙ 3,381 Sqft ∙ Built 2018 4 beds 5 baths ∙ 3,381 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,310
    • $0.98
    •  
  • 2832 London The Colony, TX 1
    • 4 beds 4 baths ∙ 3,337 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,337 Sqft ∙ Built 2018
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.99
    •  
  • 8236 Lindsay Gardens The Colony, TX 3
    • 4 beds 4 baths ∙ 3,381 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,381 Sqft ∙ Built 2013
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $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
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.98
    •  
  • 8336 Richmond The Colony, TX 5
    • 4 beds 5 baths ∙ 3,518 Sqft ∙ Built 2017 4 beds 5 baths ∙ 3,518 Sqft ∙ Built 2017
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,499
    • $0.99
    •  
PROPERTY LISTING DETAILS
Kimberly Woodard
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510768
Last Updated: 02/02/2021
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