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10965 Colonial Heights Lane Fort Worth, TX 76179

3 Beds 3 Baths 2,105 sqft Built 2015

$249,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $118.72
  • 3 Days on Market
  • MLS # : 14480750
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,105 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

Beautiful, meticulously maintained 3 bedroom 3 full bath Cape Cod Series Home located in Chapel Hill near Eagle Mountain Lake. Looks brand new... Must see to appreciate! Huge bonus room upstairs with full bath that could be a second Master bedroom. Granite counter tops in Kitchen. Open Concept, Covered Patio and Covered Front Porch. Energy Efficient features include Radiant Barrier Decking, 16 seer air conditioner, vinyl double pain, Low E windows and much more! Ceramic tile, laminate wood and highly upgraded carpeting. Neighborhood amenities include Jr. Olympic Pool, Walking Paths, and Pond.

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: Chapel Hill of Fort Worth

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Chapel Hill of Fort Worth

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Eagle Mountain Elementary School Primary Regular 583 32 6
Wayside Middle School Middle Regular 943 52 6
Boswell High School High Regular 1,605 106 7

Eagle Mountain Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 32
6
GreatSchools Rating

Wayside Middle School

  • Education Level: Middle
  • # of students: 943
  • # of teachers: 52
6
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$922
Property Tax -$573
Property Insurance -$149
HOA -$35
Property Management Fees -$99
CASH FLOW
-$138

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.

$249,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$3,600

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4503$1,6404$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 10965 Colonial Heights Lane Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.78
    •  
  • 10900 Hopewell Cove Fort Worth, TX 1
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2006
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
  • 10861 Colonial Heights Lane Fort Worth, TX 2
    • 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 2006
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 10941 Colonial Heights Lane Fort Worth, TX 4
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2005
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 6148 Obsidian Creek Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2017
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
PROPERTY LISTING DETAILS
David Roth
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480750
Last Updated: 12/11/2020
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