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3701 Manchester The Colony, TX 75056

5 Beds 5 Baths 4,666 sqft Built 2017

$729,900

List Price

$3,880

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $156.43
  • 3 Days on Market
  • MLS # : 14503765
  • Updated Date : 01/22/2021 at 13:09
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,666 sqft
  • Baths : 3 full , 2 half
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Better than a model home! This stunning corner lot home has upgrades throughout, you must see all the beautiful touches in person. Two separate staircases lead you upstairs to 4 bedrooms, a flex room which can be a 6th bedroom, laundry room, media room & game room. Downstairs has hardwood floors, office, flex room, incredible kitchen w double ovens, upgraded appliances, mud room and tons of storage. All bathrooms have designer tile, no expense was spared here! Huge yard ready for your family to enjoy. Walk to Prestwick stem & Strike middle school w athletic facilities. Community pools, splash park, playgrounds, dog park, 10+ miles of nature trails, two golf courses w clubhouse, neighborhood events

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 $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
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
 

$656,910$802,890$729,900

PURCHASE PRICE

$3,492$4,268$3,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,880
EXPENSES Loan Payment -$2,535
Property Tax -$1,396
Property Insurance -$297
HOA -$100
Property Management Fees -$99
CASH FLOW
-$547

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.

$729,900

PROJECTED PRICE

$3,880

PROJECTED RENT

0.53%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$199,174

INVESTMENT

$199,174

Down Payment
$182,475
Rehab Estimate
$5,750
Closing Costs
$10,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,535

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,475
Loan Amount $547,425
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,746

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,880

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $3,873

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,6003$3,8804$3,950
$3,950
RENT COMPS ANALYSIS
  • 3701 Manchester The Colony, TX 3
    • 5 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017 5 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,880
    • $0.83
    •  
  • 5162 Sylvan Shores Drive Frisco, TX 1
    • 4 beds 4 baths ∙ 4,366 Sqft ∙ Built 2014 4 beds 4 baths ∙ 4,366 Sqft ∙ Built 2014
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.80
    •  
  • 1659 Sandstone Drive Frisco, TX 2
    • 5 beds 4 baths ∙ 4,641 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,641 Sqft ∙ Built 2004
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.78
    •  
  • 3717 Ladybank The Colony, TX 4
    • 6 beds 5 baths ∙ 4,337 Sqft ∙ Built 2019 6 beds 5 baths ∙ 4,337 Sqft ∙ Built 2019
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $0.91
    •  
PROPERTY LISTING DETAILS
Katherine Meyers
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503765
Last Updated: 01/22/2021
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