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7812 Strathmill Drive The Colony, TX 75056

4 Beds 5 Baths 3,718 sqft Built 2015

$620,000

List Price

$3,510

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $166.76
  • 3 Days on Market
  • MLS # : 14507162
  • Updated Date : 02/06/2021 at 23:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,718 sqft
  • Baths : 4 full , 1 half
Listing Agent

Direct Realty

Listing Agent's Description

BEAUTIFUL 4bd, 4.1ba home set on an oversized corner lot in the award-winning lakeside community of The Tribute, with acclaimed STEM schools! This American legend smart home features nailed down hardwood floors, large kitchen with extended island,SS appliances, commercial vent hood & 6burner gas range cooktop.A secondary bedroom, mudbench & study with French doors downstairs! Large mast.suite with bay windows and solar screens, mast.bath has separate granite vanities. Gameroom with hookups for future wet bar &media room. Large backyard with 6ft BOB cedar fence, 2Car finished garage with epoxy resin floor & added storage in the attic- beautiful view of greenbelt and walking distance from kids pool&playground.

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

Neighborhood: Aberdeen at Tribute

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $120k523k

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

Neighborhood: Aberdeen at Tribute

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263174

* 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
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$558,000$682,000$620,000

PURCHASE PRICE

$3,159$3,861$3,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,510
EXPENSES Loan Payment -$2,153
Property Tax -$1,186
Property Insurance -$242
HOA -$100
Property Management Fees -$99
CASH FLOW
-$271

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.

$620,000

PROJECTED PRICE

$3,510

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,238

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,510

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $3,504

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,3503$3,3954$3,4995$3,510
$3,510
RENT COMPS ANALYSIS
  • 7812 Strathmill Drive The Colony, TX 5
    • 4 beds 5 baths ∙ 3,718 Sqft ∙ Built 2015 4 beds 5 baths ∙ 3,718 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,510
    • $0.94
    •  
  • 3516 Kirkfield Court The Colony, TX 1
    • 5 beds 4 baths ∙ 4,025 Sqft ∙ Built 2014 5 beds 4 baths ∙ 4,025 Sqft ∙ Built 2014
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.81
    •  
  • 8236 Lindsay Gardens The Colony, TX 2
    • 4 beds 4 baths ∙ 3,381 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,381 Sqft ∙ Built 2013
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $0.99
    •  
  • 2940 Broughton The Colony, TX 3
    • 4 beds 4 baths ∙ 3,477 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,477 Sqft ∙ Built 2017
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.98
    •  
  • 8336 Richmond The Colony, TX 4
    • 4 beds 5 baths ∙ 3,518 Sqft ∙ Built 2017 4 beds 5 baths ∙ 3,518 Sqft ∙ Built 2017
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,499
    • $0.99
    •  
PROPERTY LISTING DETAILS
Hanish John
Direct Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507162
Last Updated: 02/06/2021
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