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6404 Creekdale The Colony, TX 75056

4 Beds 3 Baths 3,000 sqft Built 2002

$415,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $138.33
  • 1 Days on Market
  • MLS # : 14470196
  • Updated Date : 11/21/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,000 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates Uptown

Listing Agent's Description

Welcome home! This well maintained spacious 4 bed 2.5 bath home with huge upstairs game room is wired for speakers. The primary bedroom is conveniently located downstairs. Primary and guest bathrooms were recently updated. Hand-scraped hardwood floors downstairs and upstairs. Large island with granite countertops. Lots of storage and an extra-large 3 car garage with wood fence and gated driveway. Covered patio. Beautiful new metal stairway railing. Community features pools, parks and walking trail and play area for kids.

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 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,531
Property Tax -$794
Property Insurance -$201
HOA -$37
Property Management Fees -$99
CASH FLOW
-$241

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.

$415,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.58%

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-$5.0k$0.0$5.0k$10k

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$6,367

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,393

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,4204$2,4955$2,595
$2,595
RENT COMPS ANALYSIS
  • 6404 Creekdale The Colony, TX 3
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.81
    •  
  • 5809 Concord Lane The Colony, TX 1
    • 3 beds 3 baths ∙ 2,784 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,784 Sqft ∙ Built 2000
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 5853 Pinebrook Drive The Colony, TX 2
    • 3 beds 3 baths ∙ 2,980 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,980 Sqft ∙ Built 2007
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 5632 Sundance Drive The Colony, TX 4
    • 4 beds 3 baths ∙ 3,203 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,203 Sqft ∙ Built 2001
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
  • 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
Brittani Firestone
Jp & Associates Uptown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470196
Last Updated: 11/21/2020
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