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7065 Fox Drive The Colony, TX 75056

3 Beds 3 Baths 1,945 sqft Built 1990

$299,500

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $153.98
  • 2 Days on Market
  • MLS # : 14467605
  • Updated Date : 11/07/2020 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,945 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Lovely home totally move in ready! Gourmet island kitchen features: Remodeled kitchen with granite, backsplash, SS appliances and double oven. Stunning master suite offers garden soaking tub, separate shower, and separate vanities. All three bathrooms were remodeled in the past 2 years. Upstairs are two bedrooms, guest bath, playroom or TV area. Beautiful outdoor living complete with covered porche and outside like kitchen & sink, perfect to enjoy family time! Wonderful location! Just minutes away from Hwy 121, restaurants, shopping corridor, schools, parks and swimming pools.

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: Northpointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Neighborhood: Northpointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
B B Owen Elementary School Primary Regular 496 38 5
Griffin Middle School Middle Regular 765 57 5
The Colony High School High Regular 1,987 139 8

B B Owen Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 38
5
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
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,105
Property Tax -$573
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
-$197

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.

$299,500

PROJECTED PRICE

$1,720

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,894

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7553$1,8004$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 7065 Fox Drive The Colony, TX 1
    • 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.88
    •  
  • 5633 Usher Street The Colony, TX 2
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1980
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,755
    • $0.93
    •  
  • 5825 Carroll Drive The Colony, TX 3
    • 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1990
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 5805 Carroll Drive The Colony, TX 4
    • 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1990
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 7124 Dee Cole Drive The Colony, TX 5
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1990
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
PROPERTY LISTING DETAILS
Elsy Camacho
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467605
Last Updated: 11/07/2020
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