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4177 Ballard Trail The Colony, TX 75056

3 Beds 2 Baths 1,476 sqft Built 1985

$275,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $186.31
  • 4 Days on Market
  • MLS # : 14477934
  • Updated Date : 12/05/2020 at 17:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,476 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Adorable home sits on a large corner lot,just a stones throw from Lake Lewisville,in a quiet neighborhood.Low maintenance flooring throughout. Private MST bath-WI closet & TUB.Custom stonework wood burning FP and natural light make LR&DR cozy and bright, or snuggle up for a good read in MST sitting area.2 inch blinds throughout added 2018.Kitchen boasts LRG Coffee Bar or Baking Counter.New Samsung Fridge INCLUDED. Foundation has lifetime warranty.ROOF JUL2020(gutters and auto vent fans added)Patio and fire pit added AUG2018.Also includes front solar screens.EZ access to lake across the street.Perfect home for 1st time buyer, sizing down or even great for investment rental property.A MUST SEE WITH A GREAT PRICE!

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MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,015
Property Tax -$526
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
-$52

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.

$275,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

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

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$11,746

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,694

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7004$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 4177 Ballard Trail The Colony, TX 3
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.15
    •  
  • 4120 Caldwell Avenue The Colony, TX 1
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1986
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.15
    •  
  • 4149 Driscoll Drive The Colony, TX 2
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1986
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.15
    •  
  • 4136 Clary Drive The Colony, TX 4
    • 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
    •  
  • 4152 Caldwell Avenue The Colony, TX 5
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1986
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.21
    •  
PROPERTY LISTING DETAILS
Sandy Hitchcock
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477934
Last Updated: 12/05/2020
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