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6505 Cimmaron Trail Colleyville, TX 76034

4 Beds 4 Baths 3,430 sqft Built 2011

$605,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $176.38
  • 3 Days on Market
  • MLS # : 14476743
  • Updated Date : 12/05/2020 at 17:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,430 sqft
  • Baths : 4 full
Listing Agent

Sophie Tel Diaz Real Estate

Listing Agent's Description

One and a half story home in the desirable and gated community of Villas of Colleyville! Kitchen featuring granite countertops, tile backsplash, stainless steel appliances and gas cooktop. Large upstairs Gameroom with full bath. All bedrooms on first floor. Backyard oasis featuring a custom saltwater pool with waterfall, covered patio, and lush landscaping. Home is freshly painted and move in ready! This home shows pride of ownership and it is a must see.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: North Colleyville

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $123k731k

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

Neighborhood: North Colleyville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $11263769

* 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
Liberty Elementary School Primary Regular 389 29 10
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Liberty Elementary School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 29
10
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$544,500$665,500$605,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$2,232
Property Tax -$1,166
Property Insurance -$225
HOA -$125
Property Management Fees -$99
CASH FLOW
-$227

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.

$605,000

PROJECTED PRICE

$3,620

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$166,075

INVESTMENT

$166,075

Down Payment
$151,250
Rehab Estimate
$5,750
Closing Costs
$9,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,232

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $151,250
Loan Amount $453,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$14,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,620

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $3,687

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,3993$3,5004$3,6205$3,799
$3,799
RENT COMPS ANALYSIS
  • 6505 Cimmaron Trail Colleyville, TX 4
    • 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,620
    • $1.06
    •  
  • 3005 Crestwater Ridge Keller, TX 1
    • 4 beds 4 baths ∙ 3,185 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,185 Sqft ∙ Built 2016
    property image
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.04
    •  
  • 3008 Crestwater Ridge Keller, TX 2
    • 4 beds 4 baths ∙ 3,185 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,185 Sqft ∙ Built 2016
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,399
    • $1.07
    •  
  • 808 Pond Springs Court Keller, TX 3
    • 5 beds 4 baths ∙ 3,173 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,173 Sqft ∙ Built 2000
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.10
    •  
  • 7017 Benjamin Way Colleyville, TX 5
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2015
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,799
    • $1.09
    •  
PROPERTY LISTING DETAILS
Sophie Diaz
Sophie Tel Diaz Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476743
Last Updated: 12/05/2020
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