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4516 Nervin Street The Colony, TX 75056

3 Beds 2 Baths 1,233 sqft Built 1984

$219,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $178.35
  • 3 Days on Market
  • MLS # : 14485143
  • Updated Date : 12/12/2020 at 09:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,233 sqft
  • Baths : 2 full
Listing Agent

Real Estate Reformation

Listing Agent's Description

Beautiful and affordable home in a quiet neighborhood! This recently updated home features plenty to Love! New Roof, new flooring throughout, tiled bathrooms and fresh paint. The kitchen has stainless steel appliances, granite counter tops and new back splash. Open and spacious living room, large windows throughout, perfect for hosting guests! Master bedroom has a private bathroom. This home is ready to move into, it just needs new owners!

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
 

$197,910$241,890$219,900

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 -$811
Property Tax -$421
Property Insurance -$98
Property Management Fees -$99
CASH FLOW
$61

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.

$219,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.68%

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$10k

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$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$18,273

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
  • $1.21

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,4993$1,5504$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 4516 Nervin Street The Colony, TX 1
    • 3 beds 3 baths ∙ 1,233 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,233 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $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
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.19
    •  
  • 4415 Jenkins Street The Colony, TX 3
    • 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1983
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.23
    •  
  • 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
    property image
    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
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
PROPERTY LISTING DETAILS
Zach Faris
Real Estate Reformation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485143
Last Updated: 12/12/2020
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