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3917 Creek Hollow Way The Colony, TX 75056

4 Beds 3 Baths 2,937 sqft Built 2001

$375,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $127.68
  • 2 Days on Market
  • MLS # : 14510260
  • Updated Date : 02/06/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,937 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

Enter into this beautiful-grand two story foyer & formal dining room. Updated kitchen boasts quartz countertops, cool glass-stone backsplash, touchless faucet & professionally painted cabinets. Cozy family room w fireplace & wood like laminate floors. Private study-home office is located at back of home close to half bath. Enjoy downstairs master suite with crown molding, wood like laminate floors, walk in closet. Master bath has double sinks, frameless shower, double shower heads & granite counters. Three bedrooms-huge game room set up for movies with surround sound-built in desk-study area all upstairs. Lovely covered patio sits on side of house. New HVAC system 2020, radiant barrier, impact resistant roof.

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

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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,303
Property Tax -$717
Property Insurance -$197
Property Management Fees -$99
CASH FLOW
-$86

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.

$375,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.59%

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-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$10,937

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,496

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,230
1$2,2302$2,3503$2,4004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 3917 Creek Hollow Way The Colony, TX 1
    • 4 beds 3 baths ∙ 2,937 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,937 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.76
    •  
  • 4028 Pear Ridge Drive The Colony, TX 2
    • 4 beds 3 baths ∙ 3,047 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,047 Sqft ∙ Built 1999
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
  • 4025 Steepleridge Drive The Colony, TX 3
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1999
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 4517 Newport Drive The Colony, TX 4
    • 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1996
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 3820 Blueridge Drive The Colony, TX 5
    • 5 beds 4 baths ∙ 2,811 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,811 Sqft ∙ Built 1999
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.91
    •  
PROPERTY LISTING DETAILS
Elizabeth Carla
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 #: 14510260
Last Updated: 02/06/2021
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