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2836 Braemar The Colony, TX 75056

3 Beds 3 Baths 2,439 sqft Built 2018

$515,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $211.15
  • 4 Days on Market
  • MLS # : 14479055
  • Updated Date : 12/03/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,439 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This stunning Darling built home, located within the highly desirable, award winning community of The Tribute. The beautiful foyer welcomes in you with hand-scraped hardwoods, beautiful archways and plenty of natural light! Enjoy cooking in an open-concept kitchen which overlooks the living room, feaTuring all stainless steel appliances, lush quartz counter tops & large breakfast bar. Unwind in your master suite with his and her sinks, tub. Master suite features access to the utility room that has an additional sink. The large backyard features outdoor living area that is perfect for hosting or relaxing!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
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
 

$463,500$566,500$515,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,900
Property Tax -$985
Property Insurance -$168
HOA -$100
Property Management Fees -$99
CASH FLOW
-$612

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.

$515,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$367

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,677

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4903$2,6404$2,9205$3,000
$3,000
RENT COMPS ANALYSIS
  • 2836 Braemar The Colony, TX 3
    • 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $1.08
    •  
  • 5169 Rolling Hills Drive Frisco, TX 1
    • 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2007
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.11
    •  
  • 8328 Richmond The Colony, TX 2
    • 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 2017
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.10
    •  
  • 3216 Stonefield The Colony, TX 4
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2014
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.10
    •  
  • 8260 Paisley The Colony, TX 5
    • 4 beds 4 baths ∙ 2,772 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,772 Sqft ∙ Built 2008
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.08
    •  
PROPERTY LISTING DETAILS
Angie Jordan
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479055
Last Updated: 12/03/2020
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