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3633 Cottonwood Springs Drive The Colony, TX 75056

4 Beds 3 Baths 2,912 sqft Built 1996

$489,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $168.23
  • 3 Days on Market
  • MLS # : 14485223
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,912 sqft
  • Baths : 3 full
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

Open House Sat 12th from 1pm-3pm. Located in Highly Desired Stewart Peninsula Subdivision! This stunning & elegant house has been thoughtfully updated. Features 4 Bedrooms, 3 full baths & 3 car garage! Spacious family room with a gas starter fireplace, with a wall of windows that overlooks the huge backyard allowing abundant natural light. The Kitchen is fantastic with wood cabinets, Granite Counter Tops, Stainless Steel Appliances & a spacious Island! New ceramic floors. Private First-Floor Master Suite with a large bath, double sink vanity, and walk-in closet. This Lakefront property offers gorgeous views of trees, community pools, trails and Lake Lewisville. This is the home you will love! Must see.

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: Stewart Peninsula-Cottonwood Springs

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $120k362k

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

Neighborhood: Stewart Peninsula-Cottonwood Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262199

* 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
 

$440,910$538,890$489,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,808
Property Tax -$937
Property Insurance -$195
HOA -$47
Property Management Fees -$99
CASH FLOW
-$696

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.

$489,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$49

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,381

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,3004$2,3905$2,475
$2,475
RENT COMPS ANALYSIS
  • 3633 Cottonwood Springs Drive The Colony, TX 4
    • 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.82
    •  
  • 3939 Willow Bend Drive The Colony, TX 1
    • 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2001
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 3733 Cottonwood Springs Drive The Colony, TX 2
    • 4 beds 2 baths ∙ 2,883 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,883 Sqft ∙ Built 1996
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.78
    •  
  • 3937 Willow Bend Drive The Colony, TX 3
    • 4 beds 4 baths ∙ 2,672 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,672 Sqft ∙ Built 2000
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 3721 Saint Andrews Drive The Colony, TX 5
    • 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 1999
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $0.83
    •  
PROPERTY LISTING DETAILS
Marlene Luviano
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485223
Last Updated: 12/11/2020
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