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8321 Western The Colony, TX 75056

4 Beds 4 Baths 3,124 sqft Built 2019

$579,000

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $185.34
  • 3 Days on Market
  • MLS # : 14524691
  • Updated Date : 03/05/2021 at 18:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,124 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Brilliant floor plan with 2 bedrooms down, 2 bedrooms up each with dedicated bath, private study, expansive 2-story family rm with gas fireplace. Gourmet kit features stainless steel appliances, subway tile backsplash, island & pantry. Lavish master boasts dual sinks, garden tub & huge walk-in closet. Upstairs offers large game room opening to family below & entertainment room ideal for media room. Rounding out the impressive home includes the oversized 2 car garage, extended covered patio & fenced backyard. Prime location in The Tribute with Lewisville lake across the street, park just a block away & an unparalleled golf course!

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$521,100$636,900$579,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$2,011
Property Tax -$1,108
Property Insurance -$208
HOA -$100
Property Management Fees -$99
CASH FLOW
-$105

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.

$579,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.59%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,011

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$18,274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $3,390

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2503$3,4204$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 8321 Western The Colony, TX 3
    • 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $1.09
    •  
  • 8237 Inverness The Colony, TX 1
    • 4 beds 3 baths ∙ 2,990 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,990 Sqft ∙ Built 2008
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.00
    •  
  • 8204 Paisley The Colony, TX 2
    • 3 beds 4 baths ∙ 2,965 Sqft ∙ Built 2010 3 beds 4 baths ∙ 2,965 Sqft ∙ Built 2010
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.10
    •  
  • 2837 Waverly The Colony, TX 4
    • 4 beds 4 baths ∙ 3,135 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,135 Sqft ∙ Built 2017
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.12
    •  
  • 3701 Canterbury The Colony, TX 5
    • 4 beds 3 baths ∙ 3,207 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,207 Sqft ∙ Built 2016
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.12
    •  
PROPERTY LISTING DETAILS
Marian D'unger
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14524691
Last Updated: 03/05/2021
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