Need Advice on The Colony Property

[Marie Chiang]

Hi! I'm completely new to REI and am working with a turnkey company to purchase my first investment property. I will be going with a conventional loan with ~25% down. 'm mainly interested in passive income.

The property I'm looking at is located on Usher St. in The Colony, TX and has 4B/2BA, 2 car garage, is 2208 sq ft, built in 1980.

$41k in renovations have been done on it, and the asking price is $250,900.

Estimated rent range is $1895 to 1995/mo.

Does this seem like a decent purchase?  Does the rent range seem reasonable? Is The Colony a good area to invest in?