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5608 Usher Street The Colony, TX 75056

4 Beds 2 Baths 2,017 sqft Built 1980

$275,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $136.34
  • 3 Days on Market
  • MLS # : 14463597
  • Updated Date : 11/01/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,017 sqft
  • Baths : 2 full
Listing Agent

Patton International Propertie

Listing Agent's Description

Charming! Convenient! Waiting for YOU! 4 Bedroom , 2 Bath , 2 Car Garage with Pool in Move In Condition. New Roof ( August 2020). This Ranch Style One Story features Spacious Formal Living and Formal Dining Plus a big Family Room With a Fireplace. Granite Counters in Kitchen with a Handy Serving Window to the Pool Area and a Wet Bar- Butlers Panty Provides Additional Serving and Storage Space. Wood Fence Surrounds Pool and Patio for Privacy. This is a Gem in Great Condition with Very Nice Updates Including Gorgeous Flooring, Appealing Colors and Great Curb Appeal! See it Fast...It Isn't Going to Last!

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,015
Property Tax -$526
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
$77

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.

$275,000

PROJECTED PRICE

$1,860

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

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$22,588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7553$1,7754$1,8005$1,860
$1,860
RENT COMPS ANALYSIS
  • 5608 Usher Street The Colony, TX 5
    • 4 beds 2 baths ∙ 2,017 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,017 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.92
    •  
  • 5608 Terry Street The Colony, TX 1
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1983
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 5633 Usher Street The Colony, TX 2
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1980
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,755
    • $0.93
    •  
  • 5617 Tucker Street The Colony, TX 3
    • 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1980
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.88
    •  
  • 5612 Tucker Street The Colony, TX 4
    • 4 beds 2 baths ∙ 2,017 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,017 Sqft ∙ Built 1980
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
PROPERTY LISTING DETAILS
Myla Patton
Patton International Propertie
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463597
Last Updated: 11/01/2020
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