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4424 N Colony Boulevard The Colony, TX 75056

4 Beds 2 Baths 2,109 sqft Built 1984

INVESTimate

$305,914

List Price

$1,840

$1,656 - $2,024

Rent Est.

$332,743  ( +8.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $145.05
  • 6 Days on Market
  • MLS # : 14417910
  • Updated Date : 08/24/2020 at 20:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,109 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

IMMACULATE CONDITION! Beautiful, peaceful, and majestic ambiance awaits you in this one of a kind spacious and well loved home. Recent updates include the roof, HVAC, fence, garage door, fresh paint inside and out, and flooring. Additionally, both baths have been remodeled and the kitchen has been updated. Even the grass was recently replanted, and the lawn comes with mature trees and sprinkler system! If you are searching for a worry free home that is truly move-in ready THIS is it! Great location within walking distance to Stewart Creek Park set on the shoreline of Lake Lewisville, and easy access to major roads, schools, shopping, dining, recreation center, library, and more! This fantastic home has it all!

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

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
Stewarts Creek Elementary School Primary Regular 416 30 3
Lakeview Middle School Middle Regular 817 62 3
The Colony High School High Regular 1,987 139 8

Stewarts Creek Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 30
3
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
 

$275,323$336,505$305,914

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,129
Property Tax -$585
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
-$122

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.

$305,914

PROJECTED PRICE

$1,840

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.77%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,817

INVESTMENT

$86,817

Down Payment
$76,479
Rehab Estimate
$5,750
Closing Costs
$4,589

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,479
Loan Amount $229,436
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$8,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7953$1,7954$1,8405$1,850
$1,850
RENT COMPS ANALYSIS
  • 4424 N Colony Boulevard The Colony, TX 4
    • 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.87
    •  
  • 4809 Pemberton Lane The Colony, TX 1
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1976
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.89
    •  
  • 6836 Younger Drive The Colony, TX 2
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1985
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 4328 Ireland Drive The Colony, TX 3
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1984
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 4612 Archer Drive The Colony, TX 5
    • 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1988
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
PROPERTY LISTING DETAILS
Lucy Hilton
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417910
Last Updated: 08/24/2020
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