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4528 N Colony Boulevard The Colony, TX 75056

3 Beds 2 Baths 1,806 sqft Built 1983

INVESTimate

$235,000

List Price

$1,680

$1,512 - $1,848

Rent Est.

$255,609  ( +8.77%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1983
  • Price/Sqft : $130.12
  • 9 Days on Market
  • MLS # : 14415749
  • Updated Date : 08/20/2020 at 23:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,806 sqft
  • Baths : 2 full
Listing Agent

Seeto Realty

Listing Agent's Description

Great for small families or retirees! The living room has a wood-burning fireplace. Eat-in kitchen with a bay window. Nice size shaded back yard with covered patio. Lots of updates, paint in and out, flooring includes laminates, ceramic tile, and carpet in the bedroom. New light fixtures, ceiling fans, foundation repair with warranty. Home is sold as-is.

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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$867
Property Tax -$459
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$123

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.

$235,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.71%

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$25,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,6954$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 4528 N Colony Boulevard The Colony, TX 1
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.93
    •  
  • 4524 N Colony Boulevard The Colony, TX 2
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1983
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 6817 Younger Drive The Colony, TX 3
    • 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1985
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 6836 Younger Drive The Colony, TX 4
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1985
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 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
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
PROPERTY LISTING DETAILS
Shay Simmons
Seeto Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415749
Last Updated: 08/20/2020
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