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512 Winehart Street The Colony, TX 75056

3 Beds 3 Baths 2,374 sqft Built 2015

$450,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $189.55
  • 1 Days on Market
  • MLS # : 14532179
  • Updated Date : 03/13/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,374 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors-coit

Listing Agent's Description

Stunning Castle Hills Custom Highland Home is a must see! Located in quiet, lovely, secluded neighborhood. Pride of ownership really stands out in this one. Soaring ceilings throughout this luxury single story home, boasting 3 bedrooms, 2.5 baths, 2 living areas and a private office. Gorgeous wood flooring and fabulous kitchen with huge island and extensive upgraded cabinetry make this open floorplan a true entertainer’s delight. The wonderful, covered patio with gas stub-out welcomes all those fun friends and family cookouts. Ideal location convenient to The Star, shopping, restaurants with easy access north, south, east and west. Castle Hills amenities include pool, parks, clubhouse & fitness center.

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
Peters Colony Elementary School Primary Regular 845 59 5
Lakeview Middle School Middle Regular 817 62 3
The Colony High School High Regular 1,987 139 8

Peters Colony Elementary School

  • Education Level: Primary
  • # of students: 845
  • # of teachers: 59
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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,563
Property Tax -$861
Property Insurance -$164
HOA -$70
Property Management Fees -$99
CASH FLOW
-$357

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.

$450,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.53%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,202

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0503$2,1004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 512 Winehart Street The Colony, TX 4
    • 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.01
    •  
  • 6101 Apache Drive The Colony, TX 1
    • 3 beds 2 baths ∙ 2,140 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,140 Sqft ∙ Built 2001
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 5436 Waterwood Court The Colony, TX 2
    • 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 2002
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.89
    •  
  • 3953 Creek Hollow Way The Colony, TX 3
    • 4 beds 2 baths ∙ 2,223 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,223 Sqft ∙ Built 1998
    property image
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 1215 Lake Falls Terrace Lewisville, TX 5
    • 3 beds 3 baths ∙ 2,629 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,629 Sqft ∙ Built 2018
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
PROPERTY LISTING DETAILS
Lynet Abbott
Ebby Halliday, Realtors-coit
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532179
Last Updated: 03/13/2021
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