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4145 Clary Drive The Colony, TX 75056

3 Beds 2 Baths 1,689 sqft Built 1987

$279,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $165.72
  • 3 Days on Market
  • MLS # : 14488071
  • Updated Date : 12/17/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,689 sqft
  • Baths : 2 full
Listing Agent

Exalt Realty

Listing Agent's Description

Great three bedroom 2 bath home with open plan and loads of updates. Completely remodeled kitchen (2017) including cabinets, quartz counters, stainless appliances, and tile flooring is open to second living area with fireplace. Split master suite has remodeled bathroom with quartz counters, frame less shower and lots of linen storage. Recent paint inside and out and replaced windows and doors in 2017. HVAC heat pump system in 2014. Second bathroom updated with quartz counter and updated tile flooring and tub surround. Updated lighting fixtures. Large fenced yard with custom storage building built in 2020.

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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,033
Property Tax -$535
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$28

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.

$279,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7493$1,7504$1,7955$1,820
$1,820
RENT COMPS ANALYSIS
  • 4145 Clary Drive The Colony, TX 5
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.08
    •  
  • 4101 Durbin Drive The Colony, TX 1
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1987
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 4185 Fryer Street The Colony, TX 2
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1988
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.11
    •  
  • 4136 Clary Drive The Colony, TX 3
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1988
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.08
    •  
  • 4133 Clary Drive The Colony, TX 4
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1987
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.12
    •  
PROPERTY LISTING DETAILS
Adrian Ramos
Exalt Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488071
Last Updated: 12/17/2020
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