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4012 Tennis Club Road The Colony, TX 75056

3 Beds 2 Baths 1,275 sqft Built 1983

$389,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $305.10
  • 6 Days on Market
  • MLS # : 14498491
  • Updated Date : 01/14/2021 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,275 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Best Deck on Lewisville Lake!! Waterfront Entertainers Dream or Weekend Escape in the City!! Completely Renovated in 2020!! 5 Minutes to The Billion Dollar Mile in Frisco!! Community Dock and Total Privacy in This Exclusive Neighborhood!! 180 Degree Lake Views From Top Deck. Expansive Outdoor Living Under Covered Porch With So Many Views Of the Lake To Choose From. Storage Space Under Deck. Large Parking Pad, Outdoor Firepit and BBQ Area, Kitchen Perfect For Entertaining Large Weekend Gatherings. Owner is an agent.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Ethridge Elementary School Primary Regular 513 32 6
Lakeview Middle School Middle Regular 817 62 3
The Colony High School High Regular 1,987 139 8

Ethridge Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 32
6
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
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,351
Property Tax -$744
Property Insurance -$101
HOA -$133
Property Management Fees -$99
CASH FLOW
-$708

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.

$389,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$21

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5254$1,6505$1,720
$1,720
RENT COMPS ANALYSIS
  • 4012 Tennis Club Road The Colony, TX 5
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.35
    •  
  • 6700 Elliot Court The Colony, TX 1
    • 3 beds 1 baths ∙ 1,246 Sqft ∙ Built 1984 3 beds 1 baths ∙ 1,246 Sqft ∙ Built 1984
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.20
    •  
  • 4253 Caldwell Avenue The Colony, TX 2
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1984
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.20
    •  
  • 4201 Driscoll Drive The Colony, TX 3
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1984
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.22
    •  
  • 4281 Keys Drive The Colony, TX 4
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1984
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
PROPERTY LISTING DETAILS
Wesley Melcher
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498491
Last Updated: 01/14/2021
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