Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6801 Columbine Way Plano, TX 75093

3 Beds 4 Baths 3,810 sqft Built 1995

INVESTimate

$549,000

List Price

$3,530

$3,280 - $3,780

Rent Est.

$576,560  ( +5.02%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $144.09
  • 6 Days on Market
  • MLS # : 14418350
  • Updated Date : 08/23/2020 at 12:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,810 sqft
  • Baths : 3 full , 1 half
Listing Agent

G+a Real Estate

Listing Agent's Description

Executive home in prestigious Hills At Prestonwood golf course community. First floor features formal living and dining areas, study, family room, kitchen and breakfast rooms, and master suite. The spacious master retreat, luxurious master bath, and huge master closet. Upstairs has two bedrooms, Gameroom and wet bar area. Covered balcony upstairs has partial views of the golf course. Nice sized backyard for kids and outdoor entertaining. Short walk to the park, playground, and golf clubhouse. Close to Prestonwood Baptist Church, Dallas Tollway, George Bush, Toyota, Presbyterian Hospital.

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: Hills of Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $123k746k

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

Neighborhood: Hills of Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263181

* 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
Homestead Elementary School Primary Regular 597 42 8
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Homestead Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 42
8
GreatSchools Rating

Arbor Creek Middle School

  • Education Level: Middle
  • # of students: 894
  • # of teachers: 59
8
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$3,177$3,883$3,530

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,530
EXPENSES Loan Payment -$2,026
Property Tax -$958
Property Insurance -$247
HOA -$42
Property Management Fees -$99
CASH FLOW
$159

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.

$549,000

PROJECTED PRICE

$3,530

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.02%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$47,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,530

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $3,610

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,3003$3,4954$3,5305$4,000
$4,000
RENT COMPS ANALYSIS
  • 6801 Columbine Way Plano, TX 4
    • 3 beds 4 baths ∙ 3,810 Sqft ∙ Built 1995 3 beds 4 baths ∙ 3,810 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,530
    • $0.93
    •  
  • 3124 Prestonwood Drive Plano, TX 1
    • 4 beds 3 baths ∙ 3,657 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,657 Sqft ∙ Built 1999
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.82
    •  
  • 3200 Prestonwood Drive Plano, TX 2
    • 4 beds 3 baths ∙ 3,655 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,655 Sqft ∙ Built 1999
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.90
    •  
  • 5969 Kensington Drive Plano, TX 3
    • 4 beds 3 baths ∙ 3,477 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,477 Sqft ∙ Built 1996
    property image
    LEASED 04/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.01
    •  
  • 5924 Saint Agnes Drive Plano, TX 5
    • 4 beds 4 baths ∙ 3,791 Sqft ∙ Built 1989 4 beds 4 baths ∙ 3,791 Sqft ∙ Built 1989
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.06
    •  
PROPERTY LISTING DETAILS
Samer Moussa
G+a Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418350
Last Updated: 08/23/2020
BESbswy