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4501 Jenkins Street The Colony, TX 75056

3 Beds 2 Baths 1,258 sqft Built 1983

$214,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $170.83
  • 4 Days on Market
  • MLS # : 14533894
  • Updated Date : 03/20/2021 at 16:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,258 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

Welcome to this lovely home situated on a corner lot in The Colony's Cluster Homes neighborhood Owner has Priced this home to sell Home features 3 bedrooms and 2 full baths and a single car garage Enjoy a fenced yard with covered patio Home is walking distance to the elementary school and just a few miles from Lake Lewisville Retail, shopping and dining all just a few minutes drive away including Nebraska Furniture Mart, IKEA and Top Golf Denton County living without the high taxes of Frisco or McKinney Large Employment Centers of Frisco, Plano, Lewisville nearby

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$746
Property Tax -$411
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
$154

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.

$214,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.70%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$746

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$23,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,506

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,489
1$1,4892$1,4993$1,5104$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 4501 Jenkins Street The Colony, TX 3
    • 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.20
    •  
  • 4617 Chapman Street The Colony, TX 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1983
    LEASED 03/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,489
    • $1.21
    •  
  • 4424 Nervin Street The Colony, TX 2
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1984
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.19
    •  
  • 4506 Jenkins Street The Colony, TX 4
    • 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1983
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.23
    •  
  • 7217 Knight Drive The Colony, TX 5
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1978
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
PROPERTY LISTING DETAILS
Danny Elms
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533894
Last Updated: 03/20/2021
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