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6433 Landmark Trail The Colony, TX 75056

4 Beds 2 Baths 2,094 sqft Built 2001

$370,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $176.70
  • 7 Days on Market
  • MLS # : 14497904
  • Updated Date : 01/11/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,094 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This The Colony one-story home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly. This home has been virtually staged to illustrate its potential! Thanks for viewing!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,285
Property Tax -$708
Property Insurance -$148
HOA -$37
Property Management Fees -$99
CASH FLOW
-$247

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.

$370,000

PROJECTED PRICE

$2,030

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,084

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,0304$2,0955$2,195
$2,195
RENT COMPS ANALYSIS
  • 6433 Landmark Trail The Colony, TX 3
    • 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.97
    •  
  • 5513 Overland Drive The Colony, TX 1
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.98
    •  
  • 5620 Norris Drive The Colony, TX 2
    • 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2002
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 5605 Overland Drive The Colony, TX 4
    • 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2000
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.00
    •  
  • 5509 Glenview Lane The Colony, TX 5
    • 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 2001
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.04
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497904
Last Updated: 01/11/2021
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