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

3120 Stonefield The Colony, TX 75056

4 Beds 4 Baths 3,408 sqft Built 2012

INVESTimate

$468,000

List Price

$3,080

$2,830 - $3,330

Rent Est.

$486,533  ( +3.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $137.32
  • 6 Days on Market
  • MLS # : 14417792
  • Updated Date : 08/22/2020 at 08:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,408 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jju Realty, Llc

Listing Agent's Description

Welcome to a Highland built in the lakeside golf community of the Tribute. This beauty offers a downstairs study, master bedroom and a fully renovated kitchen with ample counter spaces. Hand scraped hardwood floors throughout 1st. Gourmet kitchen has high end granite counters, gas stovetop, double oven, breakfast bar, and built in water filter system. Tons of natural light and open plan providing a wonderful entertaining space. 2nd floor has 3 bedrooms, fully equipped media and game room. Garage has epoxy floors. Covered patio overlooks large backyard. Residents enjoy 10miles walking biking trail; community pools, splash pad, kayak launch, pickle ball courts; elementary school on site: STEM academy.

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

Neighborhood: Aberdeen at Tribute

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $120k523k

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

Neighborhood: Aberdeen at Tribute

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263174

* 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
 

$421,200$514,800$468,000

PURCHASE PRICE

$2,772$3,388$3,080

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$1,727
Property Tax -$895
Property Insurance -$224
HOA -$100
Property Management Fees -$99
CASH FLOW
$35

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.

$468,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.96%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,770

INVESTMENT

$129,770

Down Payment
$117,000
Rehab Estimate
$5,750
Closing Costs
$7,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,727

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,000
Loan Amount $351,000
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$28,133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $3,280

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,970
1$2,9702$3,0803$3,3504$3,3955$3,499
$3,499
RENT COMPS ANALYSIS
  • 3120 Stonefield The Colony, TX 2
    • 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $0.90
    •  
  • 8221 Lindsay Gardens The Colony, TX 1
    • 4 beds 3 baths ∙ 3,326 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,326 Sqft ∙ Built 2012
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $0.89
    •  
  • 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 10/25/19
    • 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
Fang Underhill
Jju Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417792
Last Updated: 08/22/2020
BESbswy