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8028 Little Mill The Colony, TX 75056

4 Beds 4 Baths 4,008 sqft Built 2007

INVESTimate

$549,900

List Price

$3,410

$3,160 - $3,660

Rent Est.

$571,676  ( +3.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $137.20
  • 7 Days on Market
  • MLS # : 14415845
  • Updated Date : 08/25/2020 at 14:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,008 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

STUNNING home located in the highly sought after community of The Tribute resort & golf community in North Dallas. Upgrades include soaring two story ceiling entry, stone fireplace, media room, game room, outdoor living space with covered patio, pool and turfed backyard. Chef's dream kitchen features upgraded stainless steel appliances, two tone white kitchen & extra storage space. Hand scraped hardwood floors & large mid level office with a romeo & juliet balcony off front of the house are just icing on the cake. Neighborhood boasts 3 pools, miles of shoreline trails, pickleball & dog park just for starters. Home is located right around the corner to the kids park & splash pad on quiet street...what a bonus!

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: 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
Prestwick Stem Academy Primary Unknown 667 40 8
Prestwick Stem Academy Middle Unknown 667 40 8
Little Elm High School High Regular 1,866 97 6

Prestwick Stem Academy

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 40
8
GreatSchools Rating

Prestwick Stem Academy

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 40
8
GreatSchools Rating

Little Elm High School

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

$494,910$604,890$549,900

PURCHASE PRICE

$3,069$3,751$3,410

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$2,029
Property Tax -$1,052
Property Insurance -$259
HOA -$100
Property Management Fees -$99
CASH FLOW
-$129

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.

$549,900

PROJECTED PRICE

$3,410

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.96%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$19,641

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,410

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,587

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2503$3,4104$3,9005$3,990
$3,990
RENT COMPS ANALYSIS
  • 8028 Little Mill The Colony, TX 3
    • 4 beds 4 baths ∙ 4,008 Sqft ∙ Built 2007 4 beds 4 baths ∙ 4,008 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $3,410
    • $0.85
    •  
  • 5971 Deerwood Lane Frisco, TX 1
    • 4 beds 4 baths ∙ 3,659 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,659 Sqft ∙ Built 2010
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.85
    •  
  • 3516 Kirkfield Court The Colony, TX 2
    • 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
    •  
  • 3620 Adelaide The Colony, TX 4
    • 5 beds 5 baths ∙ 4,280 Sqft ∙ Built 2015 5 beds 5 baths ∙ 4,280 Sqft ∙ Built 2015
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $0.91
    •  
  • 3728 Kennoway The Colony, TX 5
    • 5 beds 5 baths ∙ 3,966 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,966 Sqft ∙ Built 2017
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,990
    • $1.01
    •  
PROPERTY LISTING DETAILS
Stacey Leslie
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415845
Last Updated: 08/25/2020
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