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2012 Colt Lane Lewisville, TX 75067

4 Beds 2 Baths 2,255 sqft Built 1996

$420,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $186.25
  • 4 Days on Market
  • MLS # : 14527371
  • Updated Date : 03/20/2021 at 14:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,255 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

STUNNING 4 Bedroom ONE STORY home that feeds to FLOWER MOUND schools! Don't miss your opportunity to see this remodeled gem. In the last 3 years, the kitchen has been completely updated: modern cabinetry with soft-close drawers, wine fridge, granite, and SS appliances. Split floorplan with privacy for the master, and the largest secondary bedrooms you've ever seen! Open concept kitchen-living, with bonus playroom off to the side. AND THEN SEE THE BACKYARD! Beautiful pool, two covered patios, storage shed, and plenty of grass for dogs to roam plus high-end outdoor camera system. All the high cost items done for you: new windows, doors, and AC replaced 2020. HURRY!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Water Oak Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Water Oak Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Garden Ridge Elementary School Primary Regular 465 30 10
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Garden Ridge Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 30
10
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,459
Property Tax -$724
Property Insurance -$158
Property Management Fees -$99
CASH FLOW
-$390

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.

$420,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,185

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,092

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0503$2,1004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 2012 Colt Lane Lewisville, TX 2
    • 4 beds 2 baths ∙ 2,255 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,255 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
  • 520 Newport Drive Flower Mound, TX 1
    • 3 beds 3 baths ∙ 2,447 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,447 Sqft ∙ Built 1993
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.84
    •  
  • 1323 Old Barn Lane Lewisville, TX 3
    • 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 1352 Autumn Trail Lewisville, TX 4
    • 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 1932 Sunrise Trail Lewisville, TX 5
    • 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
PROPERTY LISTING DETAILS
Rachel Moussa
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527371
Last Updated: 03/20/2021
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