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5732 Alister Lane The Colony, TX 75056

4 Beds 2 Baths 2,744 sqft Built 1999

$399,990

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $145.77
  • 4 Days on Market
  • MLS # : 14521426
  • Updated Date : 02/26/2021 at 08:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,744 sqft
  • Baths : 2 full
Listing Agent

Weichert, Realtors Suburban

Listing Agent's Description

Amazing large single story 4 bedroom home with easy access to all parts of the metroplex. Fully updated and well cared for, this home has it all. Wood flooring, granite counters, upgraded kitchen and master bath. Huge game room or media room. HVAC, roof and water heater all replaced within the last 4 years. The backyard is an oasis with large seating area, built in spa and a koi pond. Don't wait to see this one. New survey will be needed and will be a buyer expense

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

Neighborhood: Legend Crest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $120k380k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Legend Crest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262146

* 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
Morningside Elementary School Primary Regular 431 31 8
Griffin Middle School Middle Regular 765 57 5
The Colony High School High Regular 1,987 139 8

Morningside Elementary School

  • Education Level: Primary
  • # of students: 431
  • # of teachers: 31
8
GreatSchools Rating

Griffin Middle School

  • Education Level: Middle
  • # of students: 765
  • # of teachers: 57
5
GreatSchools Rating

The Colony High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 139
8
GreatSchools Rating
 

$359,991$439,989$399,990

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,389
Property Tax -$765
Property Insurance -$186
HOA -$37
Property Management Fees -$99
CASH FLOW
-$276

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$399,990

PROJECTED PRICE

$2,200

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$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$111,747

INVESTMENT

$111,747

Down Payment
$99,998
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,998
Loan Amount $299,993
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,250

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,2004$2,4995$2,595
$2,595
RENT COMPS ANALYSIS
  • 5732 Alister Lane The Colony, TX 3
    • 4 beds 2 baths ∙ 2,744 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,744 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 5957 Snow Creek Drive The Colony, TX 1
    • 4 beds 4 baths ∙ 2,572 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,572 Sqft ∙ Built 2009
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 6501 Matson Drive The Colony, TX 2
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2002
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 5773 Crestwood Lane The Colony, TX 4
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2002
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.89
    •  
  • 5614 Westwood Lane The Colony, TX 5
    • 4 beds 3 baths ∙ 3,046 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,046 Sqft ∙ Built 2000
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.85
    •  
PROPERTY LISTING DETAILS
Dan Roemer
Weichert, Realtors Suburban
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521426
Last Updated: 02/26/2021
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