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4328 Cape Cod Drive The Colony, TX 75056

5 Beds 3 Baths 3,477 sqft Built 1996

$415,900

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $119.61
  • 6 Days on Market
  • MLS # : 14497704
  • Updated Date : 01/26/2021 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,477 sqft
  • Baths : 2 full , 1 half
Listing Agent

Briko Realty Services

Listing Agent's Description

Do not miss viewing this house! A fully renovated home includes flooring, painting, new electric oven range, microwave, new dishwasher, new paint, new granite countertop in the kitchen. Updated bathrooms with a new countertop and, new ceiling fans throughout the house, new garage door motor and door. Refrigerator and washer and dryer included. The home has vaulted ceilings and plenty of space. See it before it's gone!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$374,310$457,490$415,900

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,445
Property Tax -$796
Property Insurance -$228
HOA -$16
Property Management Fees -$99
CASH FLOW
$7

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.

$415,900

PROJECTED PRICE

$2,590

PROJECTED RENT

0.62%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,964

INVESTMENT

$115,964

Down Payment
$103,975
Rehab Estimate
$5,750
Closing Costs
$6,239

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,445

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,975
Loan Amount $311,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$18,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,582

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,5504$2,5905$2,800
$2,800
RENT COMPS ANALYSIS
  • 4328 Cape Cod Drive The Colony, TX 4
    • 5 beds 3 baths ∙ 3,477 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,477 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.74
    •  
  • 2716 Cameron Bay Lewisville, TX 1
    • 4 beds 3 baths ∙ 3,287 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,287 Sqft ∙ Built 2007
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.70
    •  
  • 2783 Safe Harbor Drive Lewisville, TX 2
    • 5 beds 3 baths ∙ 3,410 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,410 Sqft ∙ Built 2007
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.73
    •  
  • 2711 Safe Harbor Drive Lewisville, TX 3
    • 4 beds 4 baths ∙ 3,583 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,583 Sqft ∙ Built 2007
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.71
    •  
  • 4408 Lakeside Drive The Colony, TX 5
    • 4 beds 4 baths ∙ 3,380 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,380 Sqft ∙ Built 1998
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.83
    •  
PROPERTY LISTING DETAILS
Joseph Peterson
Briko Realty Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497704
Last Updated: 01/26/2021
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