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100 W Ld Lockett Road Colleyville, TX 76034

4 Beds 3 Baths 2,421 sqft Built 1996

$450,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $185.87
  • 3 Days on Market
  • MLS # : 14466343
  • Updated Date : 11/06/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,421 sqft
  • Baths : 3 full
Listing Agent

Dfw Legacy Group

Listing Agent's Description

WONDERFULLY WOODED IN COLLEYVILLE- Amazing opportunity to live in a highly sought after neighborhood in Colleyville! Feels like living in a Disney forest! Unique floor plan separates the sleeping quarters for maximum privacy! The master suite is in the back corner, there are 2 bedrooms with a Jack & Jill bath in the East hallway and the 4th bedrooms has it's own bathroom in the West hallway. There is a formal dining room in the front that is currently featured as an office. The sitting room fireplace also opens to the family room and turns on with a flick of a switch for maximum coziness! Come and enjoy a tour of this charming single story and experience the tranquility in person.

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: Wescoat Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k586k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Wescoat Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263549

* 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
Colleyville Elementary School Primary Regular 474 34 10
Colleyville Middle School Middle Regular 725 40 9
Grapevine High School High Regular 2,015 129 7

Colleyville Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 34
10
GreatSchools Rating

Colleyville Middle School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 40
9
GreatSchools Rating

Grapevine High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 129
7
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$1,660
Property Tax -$867
Property Insurance -$167
Property Management Fees -$99
CASH FLOW
-$103

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.

$450,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$16,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,645

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,6004$2,6005$2,690
$2,690
RENT COMPS ANALYSIS
  • 100 W Ld Lockett Road Colleyville, TX 5
    • 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.11
    •  
  • 613 Suellen Circle Colleyville, TX 1
    • 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1976 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1976
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.08
    •  
  • 308 Glade Road Colleyville, TX 2
    • 3 beds 2 baths ∙ 2,286 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,286 Sqft ∙ Built 1980
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.05
    •  
  • 4914 Shadowood Road Colleyville, TX 3
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1992
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.16
    •  
  • 2201 Long Shadow Court Colleyville, TX 4
    • 3 beds 2 baths ∙ 2,416 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,416 Sqft ∙ Built 1995
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
PROPERTY LISTING DETAILS
Wendie Bailey
Dfw Legacy Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466343
Last Updated: 11/06/2020
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