Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3 Indianola Circle The Colony, TX 75056

3 Beds 2 Baths 1,982 sqft Built 1985

$300,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $151.36
  • 3 Days on Market
  • MLS # : 14465010
  • Updated Date : 11/06/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,982 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Wow! Stunning updated 3 bedroom home with POOL & SPA on a Cul De Sac walking distance to the lake & hike trail. Kitchen features white cabinets, large WI pantry, SS appliances & decorative tile backsplash with French doors leading to backyard. Spacious family room with beautiful moldings & brick fireplace. Dining room has a bay window & wet bar. Huge master with sitting area, bay window, dbl sink vanity, updated shower with tile, separate tub, WI closet & skylight. Nice size secondary bedrooms & updated guest bath. Backyard with large patio, sparkling pool & spa, grass area & wood fence. Updates include roof, AC, windows, carpet, appliances, wood blinds, moldings, fixtures, decorative lighting, paint & more.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
Ethridge Elementary School Primary Regular 513 32 6
Lakeview Middle School Middle Regular 817 62 3
The Colony High School High Regular 1,987 139 8

Ethridge Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 32
6
GreatSchools Rating

Lakeview Middle School

  • Education Level: Middle
  • # of students: 817
  • # of teachers: 62
3
GreatSchools Rating

The Colony High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 139
8
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,107
Property Tax -$574
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
-$101

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.

$300,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,932

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,8204$1,9005$2,095
$2,095
RENT COMPS ANALYSIS
  • 3 Indianola Circle The Colony, TX 3
    • 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.92
    •  
  • 4253 Fryer Street The Colony, TX 1
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1984
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.90
    •  
  • 4329 Newton Street The Colony, TX 2
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 4116 Fryer Street The Colony, TX 4
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1988
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
  • 3813 Red Oak Trail The Colony, TX 5
    • 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 1999
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.02
    •  
PROPERTY LISTING DETAILS
Bryan Fitzpatrick
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465010
Last Updated: 11/06/2020
BESbswy