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6616 Sunrise Drive The Colony, TX 75056

4 Beds 4 Baths 4,224 sqft Built 2000

$484,900

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $114.80
  • 4 Days on Market
  • MLS # : 14540077
  • Updated Date : 03/27/2021 at 15:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,224 sqft
  • Baths : 3 full , 1 half
Listing Agent

Real Estate Diplomats

Listing Agent's Description

Desirable home in THE LEGENDS w pool w waterfall and more! Open entryway with vaulted ceilings 3 Lrg LA, 4 BR, 2 Dining areas, 3 car garage! Open floor plan w great views of backyard. Wonderful eat in kitchen granite counters and back splash, walkin pantry. Lrg master w sep shwr and vanities. Lrg bedrooms w walk in closets. Comes w pool table in gameroom. Conveniently located off Sam Rayburn Tollway and minutes away from the Golf course, the Star, Stonebriar mall, Legacy Business corridor, and Grandscape areas. Don t miss this one!

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: Legend Bend

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Legend Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262280

* 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
 

$436,410$533,390$484,900

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$1,684
Property Tax -$928
Property Insurance -$271
HOA -$33
Property Management Fees -$99
CASH FLOW
$285

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.

$484,900

PROJECTED PRICE

$3,300

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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$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$134,249

INVESTMENT

$134,249

Down Payment
$121,225
Rehab Estimate
$5,750
Closing Costs
$7,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,684

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,225
Loan Amount $363,675
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$45,696

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $3,717

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,3003$3,5994$3,9505$4,000
$4,000
RENT COMPS ANALYSIS
  • 6616 Sunrise Drive The Colony, TX 2
    • 4 beds 4 baths ∙ 4,224 Sqft ∙ Built 2000 4 beds 4 baths ∙ 4,224 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.78
    •  
  • 3674 Vanguard Drive Frisco, TX 1
    • 5 beds 4 baths ∙ 3,992 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,992 Sqft ∙ Built 2004
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.83
    •  
  • 4871 Voyager Drive Frisco, TX 3
    • 4 beds 4 baths ∙ 3,910 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,910 Sqft ∙ Built 2000
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,599
    • $0.92
    •  
  • 2054 Hidalgo Lane Frisco, TX 4
    • 4 beds 4 baths ∙ 4,568 Sqft ∙ Built 2015 4 beds 4 baths ∙ 4,568 Sqft ∙ Built 2015
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $0.86
    •  
  • 4641 Biltmoore Drive Frisco, TX 5
    • 4 beds 4 baths ∙ 4,381 Sqft ∙ Built 1993 4 beds 4 baths ∙ 4,381 Sqft ∙ Built 1993
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Joseph Guerrero
Real Estate Diplomats
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540077
Last Updated: 03/27/2021
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