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

3804 Overlook Court The Colony, TX 75056

4 Beds 4 Baths 3,373 sqft Built 2001

$340,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $100.80
  • 3 Days on Market
  • MLS # : 14463714
  • Updated Date : 11/01/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,373 sqft
  • Baths : 3 full , 1 half
Listing Agent

Pinnacle Realty Advisors

Listing Agent's Description

INVESTOR OR SWEAT EQUITY BUYERS!!! PROPERTY IS A TREASURE OF A LOCATION BACKING UP TO THE CREEK THAT FEEDS INTO LAKE LEWISVILLE. THE HOUSE INTERIOR IS A BLANK CANVAS AWAITING YOUR IMAGINATION! INCREDIBLY PRIVATE VIEW; TWO HOUSES DOWN TO THE CUL-DE-SAC LOCATION W VIEW OF LAKE. WALL OF WINDOWS IN FAMILY ROOM OPEN TO KITCHEN! BOTH AC'S HAVE BEEN REPLACED IN PAST 2 YEARS. FOUNDATION WAS REPAIRED IN 10-2020 W-TRANSFERABLE WARRANTY. GREAT FLOOR PLAN W 2 STAIRCASES, HUGE ROOMS W- HUGE CLOSETS. BALCONY DECK OFF GAME ROOM. SUPERIOR LOCATION, MINUTES FROM HWY 121 AND THE ENTERTAINMENT CORRIDOR W-RESTAURANTS, ENTERTAINMENT VENUES, NBF, TOYOTA. WONDERFUL BIKE-JOG & NATURE TRAIL THAT GOES AROUND LAKE LEWISVILLE!!

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: Ridgepointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $120k340k

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

Neighborhood: Ridgepointe

NeighborhoodNIR 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
Camey Elementary School Primary Regular 477 33 5
Lakeview Middle School Middle Regular 817 62 3
The Colony High School High Regular 1,987 139 8

Camey Elementary School

  • Education Level: Primary
  • # of students: 477
  • # of teachers: 33
5
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,254
Property Tax -$697
Property Insurance -$222
Property Management Fees -$99
CASH FLOW
$127

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.

$340,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$30,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,395

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3504$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3804 Overlook Court The Colony, TX 4
    • 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,373 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.71
    •  
  • 1126 Twilight Drive Lewisville, TX 1
    • 4 beds 3 baths ∙ 3,287 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,287 Sqft ∙ Built 2007
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.68
    •  
  • 2716 Cameron Bay Lewisville, TX 2
    • 4 beds 3 baths ∙ 3,287 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,287 Sqft ∙ Built 2007
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.70
    •  
  • 4205 Lakeside Drive The Colony, TX 3
    • 4 beds 3 baths ∙ 3,238 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,238 Sqft ∙ Built 1998
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.73
    •  
  • 2783 Safe Harbor Drive Lewisville, TX 5
    • 5 beds 3 baths ∙ 3,410 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,410 Sqft ∙ Built 2007
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.73
    •  
PROPERTY LISTING DETAILS
Dawn Arnold
Pinnacle Realty Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463714
Last Updated: 11/01/2020
BESbswy