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6004 Park Court Colleyville, TX 76034

4 Beds 3 Baths 3,147 sqft Built 1994

$649,000

List Price

$3,690

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $206.23
  • 2 Days on Market
  • MLS # : 14477752
  • Updated Date : 12/12/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,147 sqft
  • Baths : 3 full
Listing Agent

Elevate Realty Group

Listing Agent's Description

Beautiful multi generational custom home in high demand Colleyville area with pool, hot tub, and guest house. The main house features 4 beds or 3 beds and an office and 3 baths. Formal and informal LR spaces plus a game room and an owner designed laundry area. New paint, windows, gutters, carpet, etc have already been done for you. Pool updates include new pump, salt system and pool cleaner in last year. 1 yr old separate hot tub to stay. Living room curved Samsung 65 in TV with Yamaha surround system stays Guest house features 1 bed, 1 bath, kitchen, LR and stackable laundry unit that stays. Oversized 2 car garage and extra parking along side the house as well as circle drive.

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: Pecan Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k586k

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

Neighborhood: Pecan Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263549

* 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
Colleyville Elementary School Primary Regular 474 34 10
Colleyville Middle School Middle Regular 725 40 9
Grapevine High School High Regular 2,015 129 7

Colleyville Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 34
10
GreatSchools Rating

Colleyville Middle School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 40
9
GreatSchools Rating

Grapevine High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 129
7
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$3,321$4,059$3,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,690
EXPENSES Loan Payment -$2,395
Property Tax -$1,250
Property Insurance -$209
Property Management Fees -$99
CASH FLOW
-$263

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.

$649,000

PROJECTED PRICE

$3,690

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$17,219

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,690

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $3,328

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,1503$3,3954$3,4005$3,690
$3,690
RENT COMPS ANALYSIS
  • 6004 Park Court Colleyville, TX 5
    • 4 beds 3 baths ∙ 3,147 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,147 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $3,690
    • $1.17
    •  
  • 4708 Patterson Lane Colleyville, TX 1
    • 4 beds 2 baths ∙ 2,804 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,804 Sqft ∙ Built 2002
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.07
    •  
  • 705 Suellen Circle Colleyville, TX 2
    • 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 1977 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 1977
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.97
    •  
  • 5601 Hidden Oaks Drive Colleyville, TX 3
    • 5 beds 4 baths ∙ 3,086 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,086 Sqft ∙ Built 1999
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.10
    •  
  • 613 Colleyville Terrace Colleyville, TX 4
    • 4 beds 3 baths ∙ 3,115 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,115 Sqft ∙ Built 2007
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.09
    •  
PROPERTY LISTING DETAILS
Erin Drummer
Elevate Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477752
Last Updated: 12/12/2020
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