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4248 Driscoll Drive The Colony, TX 75056

3 Beds 2 Baths 1,255 sqft Built 1984

$240,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $191.24
  • 5 Days on Market
  • MLS # : 14525200
  • Updated Date : 03/24/2021 at 11:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,255 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Move in ready. Sought after 3 bedroom 2 bath single family home with a convenient layout on a large corner lot, with large trees in the heart of The Colony.Backyard offers a small covered patio area in addition to an oversized fenced in yard for your outside enjoyment. Newly painted inside and out, new slider, new flooring ,new fixtures and mirrors in both baths. The eat in kitchen has a microwave, dishwasher, and new range and oven. Roof and gutters 2018, water heater 2019. Great location, convenient to school, parks and lake.

SEE MORE

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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$834
Property Tax -$459
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
-$1

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.

$240,000

PROJECTED PRICE

$1,490

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$11,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,503

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,5004$1,5255$1,650
$1,650
RENT COMPS ANALYSIS
  • 4248 Driscoll Drive The Colony, TX 1
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.19
    •  
  • 6700 Elliot Court The Colony, TX 2
    • 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 3
    • 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 4
    • 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 5
    • 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
Donna Pryor
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525200
Last Updated: 03/24/2021
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