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203 Colonial Lane Euless, TX 76040

4 Beds 3 Baths 2,167 sqft Built 2002

$339,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $156.85
  • 3 Days on Market
  • MLS # : 14521420
  • Updated Date : 03/06/2021 at 16:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,167 sqft
  • Baths : 2 full , 1 half
Listing Agent

Smart Realty

Listing Agent's Description

Prepare to be impressed with this superbly maintained home. This home enjoys abundant natural light and a layout designed for easy living and entertaining. The ground floor incorporates a generously proportioned kitchen with granite countertops, 2 welcoming living spaces, a half bath, a bonus room that could be a study or playroom. The living room’s fireplace provides comfort and warmth in the wintertime and the backyard brings year-round delight. Upstairs, you will find four dreamy bedrooms. The oversized master bedroom suite features a walk-in closet and ensuite bathroom.Schools, shops, dining & leisure facilities within easy reach, this is the ideal place to call home. This may be ‘love at first sight!

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: Heritage Place Euless

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $122k268k

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

Neighborhood: Heritage Place Euless

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9932072

* 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
Trinity High School High Regular 2,416 136 7

Trinity High School

  • Education Level: High
  • # of students: 2,416
  • # of teachers: 136
7
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,181
Property Tax -$660
Property Insurance -$152
HOA -$55
Property Management Fees -$99
CASH FLOW
-$147

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$339,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,818

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,118

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0503$2,1504$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 203 Colonial Lane Euless, TX 1
    • 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 4225 Slick Rock Chase Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1997
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.92
    •  
  • 4140 Boulder Park Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 1997
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.96
    •  
  • 105 Constitution Drive Euless, TX 4
    • 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2002
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.00
    •  
  • 1104 Summerbrook Drive Euless, TX 5
    • 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 1999
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.03
    •  
PROPERTY LISTING DETAILS
Megan Vollmer
Smart Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521420
Last Updated: 03/06/2021
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