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10508 Colina Drive Fort Worth, TX 76126

4 Beds 3 Baths 2,260 sqft Built 2021

$336,646

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $148.96
  • 3 Days on Market
  • MLS # : 14496215
  • Updated Date : 01/08/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,260 sqft
  • Baths : 3 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready April 2021! Sip your morning coffee at the Henderson’s convenient kitchen island overlooking the dining and great rooms. White cabinets with white pearl quartz, countertops, smoky oak EVP flooring and warm grey carpet in our Crisp package. Located just minutes from downtown Ft. Worth, you can finally ditch your long commute. Spend the weekends watching the kids splash in the resort-style community pool or explore nearby shopping, dining, and entertainment. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k476k

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

Zip Code: 76126

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Westpark Elementary School Primary Regular 484 25 8
Benbrook Middle High School Middle Regular 911 59 5
Benbrook Middle High School High Regular 911 59 5

Westpark Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 25
8
GreatSchools Rating

Benbrook Middle High School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating

Benbrook Middle High School

  • Education Level: High
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating
 

$302,981$370,311$336,646

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,169
Property Tax -$726
Property Insurance -$158
HOA -$70
Property Management Fees -$99
CASH FLOW
$178

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$336,646

PROJECTED PRICE

$2,400

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,211

INVESTMENT

$91,211

Down Payment
$84,162
Rehab Estimate
$2,000
Closing Costs
$5,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,169

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,162
Loan Amount $252,485
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$30,403

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,345

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1903$2,1904$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 10508 Colina Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.06
    •  
  • 10913 Golfview Way Benbrook, TX 1
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2009
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 5524 Vaquero Road Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.03
    •  
  • 5568 Vaquero Road Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.03
    •  
  • 5504 Annie Creek Road Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2017
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496215
Last Updated: 01/08/2021
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