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5221 Knox Dr
The Colony, TX

5221 Knox Dr

$284,990
3 bd • 2 ba • 1,379 sf

This analysis was generated by artificial intelligence on 2/6/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$284,990

Price/Sq.Ft

$207

Year Built

1973

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Motivated seller: This suggests potential for negotiation on the price, which could lead to a more favorable deal for the buyer. Similar properties in the area have sold for around 95% of the listing price. • Convenient location: The property offers easy access to major entertainment and business hubs (Dallas Cowboys HQ, The Star, Legacy West, Grandscape) and major highways (Sam Rayburn Tollway, Dallas North Tollway), making it attractive for commuters and those seeking entertainment options. Commute times to Downtown Dallas are approximately 30 minutes. • Functional layout: The 3-bedroom, 2-bath layout is suitable for families or individuals needing extra space for guests or a home office. The average family size in The Colony is 3.2 people. • Affordable price per square foot: At $206.66/sqft, the price per square foot is competitive compared to the median price per square foot in The Colony, which is approximately $220/sqft. This suggests the property may offer good value for its size. • Minimal flood and fire risk: The low flood (1/10) and fire (1/10) risk scores are positive factors, potentially leading to lower insurance costs compared to properties in higher-risk zones.

The Bad

• School ratings are below average: Peters Colony Elementary School (5/10), Griffin Middle School (4/10), and The Colony High School (4/10) may be a concern for families prioritizing education. The city average school rating is around 7/10. • The home was built in 1973: This older construction may mean outdated systems (plumbing, electrical) and potential for higher maintenance costs compared to newer homes. Homes built after 2000 have lower maintenance cost on average. • Limited information on recent renovations: The property description does not mention any recent updates, which may indicate that the home requires cosmetic or functional improvements. A comparable property with renovations sold for $310,000 in the same area. • Major wind risk (5/10): This could translate to higher insurance premiums compared to areas with lower wind risk. The average wind risk in the region is 3/10. • Moderate air quality risk (4/10): With 4 bad air days per year, this may be a concern for individuals with respiratory sensitivities. The city average is 2 bad air days per year.

The Ugly

• Significant price increase followed by a decrease: The property was listed for sale at $299,000 on 2024-12-30 (a 130.2% increase from a previous listing price of $129,900 in 2014), then reduced to $284,990 on 2025-02-01 (a 4.7% decrease). This erratic pricing history may indicate uncertainty about the property's market value. • Severe heat risk (7/10): This could lead to high cooling costs during the summer months, potentially impacting the overall cost of ownership. The average 98th percentile temperature is 110°F, and there are approximately 7 hot days per year. • Unclear property history: The listing indicates a sale in 2014 at an "undefined" price, which raises questions about the accuracy and completeness of the property's sales history. • Potential for hidden costs associated with an older home: Given the age of the property, there may be unforeseen maintenance issues or necessary upgrades that are not immediately apparent, leading to unexpected expenses. Homes of similar age have had repair costs between $5,000-$10,000 in the last year. • Limited information on HOA fees: The property description does not mention any HOA fees, which could be a positive or negative factor depending on the services provided and the financial stability of the HOA. If there is an HOA, fees typically range from $100-$300/month in The Colony.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• First-time homebuyers seeking an affordable entry point into The Colony market. The price point of $284,990 is below the median home price in The Colony, offering an accessible option for those looking to own a home. • Buyers prioritizing proximity to major entertainment and business hubs. The property's location provides convenient access to the Dallas Cowboys HQ, The Star, Legacy West, and Grandscape, making it ideal for individuals who frequently visit these areas. • Individuals looking for a home with easy access to major highways. The property's accessibility to Sam Rayburn Tollway and Dallas North Tollway allows for quick commutes to various parts of the Dallas-Fort Worth metroplex. • Buyers who appreciate a single-story layout. The one-story design offers ease of access and can be particularly appealing to those who prefer not to navigate stairs. • Renters looking to become homeowners. With estimated rental rates for a 3-bedroom home at $2,340/month in 2023, purchasing this property may offer comparable monthly housing costs with the added benefit of building equity.

Not For

• Buyers seeking newly constructed or extensively updated homes. Built in 1973, the property may require renovations to meet modern standards and preferences. • Individuals who prefer large lots or significant outdoor space. While the property description does not specify lot size, older homes in The Colony may have smaller lots compared to newer developments. • Buyers prioritizing top-rated schools. The local schools have ratings of 5/10 and 4/10, which may not meet the expectations of buyers seeking highly-rated educational institutions. • Those requiring extensive public transportation options. The Colony is primarily car-dependent, and this property may not be suitable for individuals who rely on public transport. • Buyers with sensitivities to air quality. The property is located in an area with moderate air quality risk (4/10) and an average of 4 bad air days per year.
Demographics
Area Median Income

$100,568

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Risk Assessment

Climate Risks

heatSEVERE

7 extreme heat days per year

98th percentile: 110°F

windMAJOR

Insurance: Required

airMODERATE

4 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

• Potential for higher energy costs due to the age of the home. Older homes may have less efficient insulation and HVAC systems, leading to increased utility bills. A professional energy audit is recommended. • Possible need for updates and repairs. A home built in 1973 may require updates to plumbing, electrical, and other systems. A thorough inspection is essential to identify potential issues. • Wind damage risk. With a wind risk score of 5/10, the property is susceptible to wind damage, which could lead to higher insurance premiums and potential repair costs. • Impact of severe heat. The severe heat risk (7/10) may result in higher cooling costs during the summer months. Consider energy-efficient upgrades to mitigate this risk. • Market fluctuations. The Colony's real estate market is subject to change, and property values may fluctuate over time. Stay informed about local market trends to make informed decisions.
Insurance
Annual Cost

$1,026

$85 per month

Financials

Monthly Costs
Market Rent (3 bed)

$2,340

Price History

Property Taxes

$5,298
2024 Tax Assessment
12.5%from previous year
Assessed Value$273,000
Tax Rate1.94%

Location & Comparables

Subject Property
Comparable Sales
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