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5904 Tucson Drive The Colony, TX 75056

4 Beds 3 Baths 2,493 sqft Built 2000

$399,999

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $160.45
  • 2 Days on Market
  • MLS # : 14518771
  • Updated Date : 02/20/2021 at 21:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,493 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dallas Ark, Realtors

Listing Agent's Description

Expect to be amazed! Beautifully updated home. 4 bedroom in the Legends! Wood floors, upgraded carpet, designer paint. Kitchen has gorgeous granite countertops, an abundance of cabinets, SS appliances and opens to the living room with 2 story ceiling and corner fire place. Tons of natural lighting throughout the home. Office with French doors. Masters suite is stunning! It has spa style bath with over sized shower boating shower sprays. 3 good sized bedrooms up. Attention to detail and style was a priority when upgrading this home. Located minuted from Toyota, Cowboys The Stars, Shops of Legacy, Shopping & Top Gold. MUST SEE! Come with your best offer for this coveted home! Buyer to verify all information.

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

Neighborhood: Legend Bend

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Legend Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262280

* 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
 

$359,999$439,999$399,999

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,389
Property Tax -$765
Property Insurance -$171
HOA -$33
Property Management Fees -$99
CASH FLOW
-$348

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.

$399,999

PROJECTED PRICE

$2,110

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% 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 $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,270

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,1104$2,1955$2,195
$2,195
RENT COMPS ANALYSIS
  • 5904 Tucson Drive The Colony, TX 3
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.85
    •  
  • 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
    •  
  • 6608 Adobe Circle The Colony, TX 2
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2000
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 5512 Glenview Lane The Colony, TX 4
    • 3 beds 2 baths ∙ 2,452 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,452 Sqft ∙ Built 2001
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.90
    •  
  • 5809 Carroll Drive The Colony, TX 5
    • 3 beds 3 baths ∙ 2,490 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,490 Sqft ∙ Built 1991
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kevin Joseph
Dallas Ark, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518771
Last Updated: 02/20/2021
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