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7107 Curry Drive The Colony, TX 75056

3 Beds 2 Baths 1,468 sqft Built 1983

$243,214

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $165.68
  • 4 Days on Market
  • MLS # : 14511173
  • Updated Date : 02/04/2021 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,468 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Enter your home into a generously sized living room with enough space for a second dining or sitting area in front of a sliding glass door that leads to an oversized back yard on corner lot. Use your imagination! Indoor-outdoor entertainment, swing set playground, vegetable garden. Enough space for it all, including a large shed-workshop. Walk-in master closet with on suit master bath. Updated tile in both master and second bath. Granite kitchen countertops with ample cabinet space and ceiling fan. Separate utility room leads to oversized garage with epoxy floor. Soothing modern gray colors span throughout. This section of the Colony has easy access to 423. New hot water heater. New roof 2019. New AC 2018.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75056

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Zip Code: 75056

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Stewarts Creek Elementary School Primary Regular 416 30 3
Lakeview Middle School Middle Regular 817 62 3
The Colony High School High Regular 1,987 139 8

Stewarts Creek Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 30
3
GreatSchools Rating

Lakeview Middle School

  • Education Level: Middle
  • # of students: 817
  • # of teachers: 62
3
GreatSchools Rating

The Colony High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 139
8
GreatSchools Rating
 

$218,893$267,535$243,214

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$845
Property Tax -$465
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
-$21

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.

$243,214

PROJECTED PRICE

$1,500

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.8%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,202

INVESTMENT

$70,202

Down Payment
$60,804
Rehab Estimate
$5,750
Closing Costs
$3,648

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$845

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,804
Loan Amount $182,411
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$9,668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,596

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 7107 Curry Drive The Colony, TX 1
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 4510 Nervin Street The Colony, TX 2
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1984
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 4800 Garvin Drive The Colony, TX 3
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1978
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
  • 7217 Knight Drive The Colony, TX 4
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1978
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
  • 4909 Watson Drive The Colony, TX 5
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1978
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
PROPERTY LISTING DETAILS
Cary Stillwell
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511173
Last Updated: 02/04/2021
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