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4328 Standridge Drive The Colony, TX 75056

4 Beds 3 Baths 2,532 sqft Built 1994

$382,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $150.87
  • 2 Days on Market
  • MLS # : 14518404
  • Updated Date : 02/13/2021 at 14:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,532 sqft
  • Baths : 3 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This The Colony one-story cul-de-sac home offers a two-car garage. This home is vacant and cleaned regularly.

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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
 

$343,800$420,200$382,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,327
Property Tax -$731
Property Insurance -$174
HOA -$16
Property Management Fees -$99
CASH FLOW
-$256

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.

$382,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,980

INVESTMENT

$106,980

Down Payment
$95,500
Rehab Estimate
$5,750
Closing Costs
$5,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,500
Loan Amount $286,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,077

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,272

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,1003$2,2954$2,3455$2,500
$2,500
RENT COMPS ANALYSIS
  • 4328 Standridge Drive The Colony, TX 1
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.83
    •  
  • 4008 Breckenridge Court The Colony, TX 2
    • 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 2000
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 4005 Breckenridge Court The Colony, TX 3
    • 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2000
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.87
    •  
  • 4500 Shadowridge Drive The Colony, TX 4
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 1997
    property image
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.97
    •  
  • 4517 Newport Drive The Colony, TX 5
    • 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1996
    property image
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518404
Last Updated: 02/13/2021
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