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6217 Apache Drive The Colony, TX 75056

4 Beds 3 Baths 2,139 sqft Built 2001

$339,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $158.49
  • 5 Days on Market
  • MLS # : 14444594
  • Updated Date : 10/30/2020 at 23:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,139 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hicor Realty Group, Llc

Listing Agent's Description

Most desirable LOCATION within minutes to major companies & 5mts to HWY 121. Beautifully updated 4 bedroom, 2.5 bath home in highly desirable Legend community. Open floor plan with an additional 2nd living or study-office room on the 1st floor & a sink in laundry. Gas cooktop & outdoor covered patio for entertainment. Foundation-steel poles in 2020 with lifetime warranty. 14 seer AC & Coil in 2016, Water Heater in December 2019, Roof-2016, New Garage door motor, new Mbath toilet, updated kitchen tiles, entire 2nd floor with new carpets and entire 1st floor with wood and tile. Easy removable doggie door. 2 community pools & many neighborhood activities. Parks, walking & biking trails directly behind the home.

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 Trails

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Neighborhood: Legend Trails

NeighborhoodNIR 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
Camey Elementary School Primary Regular 477 33 5
Lakeview Middle School Middle Regular 817 62 3
The Colony High School High Regular 1,987 139 8

Camey Elementary School

  • Education Level: Primary
  • # of students: 477
  • # of teachers: 33
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
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,251
Property Tax -$648
Property Insurance -$151
HOA -$37
Property Management Fees -$99
CASH FLOW
-$96

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.

$339,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.5%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,529

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,075

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0904$2,0955$2,200
$2,200
RENT COMPS ANALYSIS
  • 6217 Apache Drive The Colony, TX 3
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.98
    •  
  • 5412 Mohawk Court The Colony, TX 1
    • 3 beds 3 baths ∙ 2,006 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,006 Sqft ∙ Built 2001
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 5500 Sundance Drive The Colony, TX 2
    • 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 2001
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 5508 Buckskin Drive The Colony, TX 4
    • 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 2001
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.98
    •  
  • 5449 Buckskin Drive The Colony, TX 5
    • 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2002
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Pam Fernando
Hicor Realty Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14444594
Last Updated: 10/30/2020
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