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3753 Colonnade Grove Drive Frisco, TX 75033

3 Beds 2 Baths 1,801 sqft Built 2002

$315,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $174.90
  • 5 Days on Market
  • MLS # : 14490038
  • Updated Date : 12/23/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,801 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

BEAUTIFUL home in the highly desirable Kings Garden community with a community swimming pool, playground, and fabulous Frisco ISD Schools! Kitchen features granite, upgraded backsplash and an island for extra storage. Flow into dining and living areas with a wood burning gas fireplace, ample amount of natural sunlight – excellent for entertaining with a great open concept feel. Beautiful wood look tile floors throughout living, dining, kitchen area and Master bedroom. Master suite has huge bathroom with dual vanities, walk-in shower, garden tub & walk-in closet. Attached two-car garage & attic space have storage galore! Fantastic Frisco ISD, parks, shopping, dining & corporate campuses all close by!

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: Kings Garden

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Kings Garden

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
Reba Cobb Carroll Elementary School Primary Regular 508 34 9
Robert Cobb Middle School Middle Regular 909 63 NA
Justin Wakeland High School High Regular 2,220 140 9

Reba Cobb Carroll Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 34
9
GreatSchools Rating

Robert Cobb Middle School

  • Education Level: Middle
  • # of students: 909
  • # of teachers: 63
NA
GreatSchools Rating

Justin Wakeland High School

  • Education Level: High
  • # of students: 2,220
  • # of teachers: 140
9
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,162
Property Tax -$554
Property Insurance -$131
HOA -$35
Property Management Fees -$99
CASH FLOW
-$32

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.

$315,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
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$12k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$15,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,941

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0954$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3753 Colonnade Grove Drive Frisco, TX 1
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.08
    •  
  • 9404 Mirror Fountain Circle Frisco, TX 2
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2005
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
  • 9117 Bastille Way Frisco, TX 3
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2002
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.09
    •  
  • 9578 Mirror Fountain Circle Frisco, TX 4
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2005
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 4017 Freedom Lane Frisco, TX 5
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2002
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
PROPERTY LISTING DETAILS
Bethany Hart
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 #: 14490038
Last Updated: 12/23/2020
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