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8017 Marlow The Colony, TX 75056

3 Beds 3 Baths 2,396 sqft Built 2020

$574,900

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $239.94
  • 3 Days on Market
  • MLS # : 14507487
  • Updated Date : 01/29/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,396 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Like new Mediterranean 1 story w 3 car built by Darling Homes at the Tribute! Private Corner Lot facing Greenbelt! Stucco with Tile Roof! Shows like a model a must see! Gorgeous outdoor living with extensive custom landscape and huge outdoor patio with fireplace. Wide open floorplan with 3 bed plus study! Highend finishes! No carpet! Extensive wood floors, plantation shutters, tons of natural light. Open concept designer kitchen has a waterfall quartz island, painted cabinets, SS appliances, gas cooktop, build in oven, and much more! Updated master bedroom w large master bathroom, custom tile, plus pass thru closet to laundry! Seller has put $60k in updates since closing. This is a must see home! Will go fast!

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

Zip Code: 75056

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

* 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
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
 

$517,410$632,390$574,900

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,997
Property Tax -$1,100
Property Insurance -$166
HOA -$100
Property Management Fees -$99
CASH FLOW
-$871

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$574,900

PROJECTED PRICE

$2,590

PROJECTED RENT

0.45%

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) 3.00%
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-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,349

INVESTMENT

$154,349

Down Payment
$143,725
Rehab Estimate
$2,000
Closing Costs
$8,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,725
Loan Amount $431,175
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$7

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,624

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3503$2,4904$2,5905$2,920
$2,920
RENT COMPS ANALYSIS
  • 8017 Marlow The Colony, TX 4
    • 3 beds 3 baths ∙ 2,396 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,396 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.08
    •  
  • 5209 Texana Drive Frisco, TX 1
    • 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 2016
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.07
    •  
  • 5169 Rolling Hills Drive Frisco, TX 2
    • 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2007
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.11
    •  
  • 8328 Richmond The Colony, TX 3
    • 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 2017
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.10
    •  
  • 3216 Stonefield The Colony, TX 5
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2014
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.10
    •  
PROPERTY LISTING DETAILS
Donna Bradshaw
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 #: 14507487
Last Updated: 01/29/2021
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