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3724 Winchester The Colony, TX 75056

4 Beds 2 Baths 2,514 sqft Built 2015

$475,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $188.94
  • 6 Days on Market
  • MLS # : 14503412
  • Updated Date : 01/26/2021 at 15:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,514 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

This one-story custom Meritage Homes has 4 bedrooms; master retreat with en suite separate vanities, quartz counters, separate tub and shower, walk-in closet connected to the laundry room, the guest suite with a full bath, dual sinks and framed in tub and shower combo; engineered hardwoods in the main living areas with 10 and 12 foot ceilings, open plan kitchen with stained cabinets, quartz counters, stainless steel appls: gas cooktop, built-in oven, and microwave, island, walk-in pantry, dining area, family room with tile fireplace, study nook, and covered patio, fruit trees, board on board fence, spray foam insulation providing a highly energy-efficient home; two-car garage with epoxy flooring.

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
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,650
Property Tax -$909
Property Insurance -$172
HOA -$100
Property Management Fees -$99
CASH FLOW
-$370

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.

$475,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.54%

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-$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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,272

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,564

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,4904$2,5605$2,920
$2,920
RENT COMPS ANALYSIS
  • 3724 Winchester The Colony, TX 4
    • 4 beds 2 baths ∙ 2,514 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,514 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.02
    •  
  • 4721 Woodard Lane Frisco, TX 1
    • 4 beds 4 baths ∙ 2,423 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,423 Sqft ∙ Built 2016
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 11816 Kurth Drive Frisco, TX 2
    • 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 2015
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.97
    •  
  • 8328 Richmond The Colony, TX 3
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Rachael Hill
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503412
Last Updated: 01/26/2021
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