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2200 Cottage Oak Lane Colleyville, TX 76034

4 Beds 2 Baths 2,292 sqft Built 1995

$430,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $187.61
  • 2 Days on Market
  • MLS # : 14524735
  • Updated Date : 03/20/2021 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,292 sqft
  • Baths : 2 full
Listing Agent

Veteran Realty Group

Listing Agent's Description

OPEN HOUSE Saturday 3-20-21 1-3p. This beautifully maintained two-owner house in Colleyville is within walking distance from the city park and the Villages at Colleyville. Located in the top-rated GCISD school district, the open-concept kitchen and living space are perfect for entertaining any time of the year. The kitchen is tastefully upgraded with granite counters, stainless steel appliances, a double oven, and intricate tile work for the backsplashes. The master suite features a large spacious area with double vanity and a separate tub and shower. The 4 bed 2 bath home sits on almost a quarter acre with a large covered patio with hot tub in the back yard.

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: Central Colleyville

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k586k

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

Neighborhood: Central Colleyville

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
Bransford Elementary School Primary Regular 425 30 10
Colleyville Middle School Middle Regular 725 40 9
Grapevine High School High Regular 2,015 129 7

Bransford Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 30
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
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,494
Property Tax -$828
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
-$51

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.

$430,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.8%
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-$5.0k$0.0$5.0k$10k$15k

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$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$16,038

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,515

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,375
1$2,3752$2,4003$2,5304$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 2200 Cottage Oak Lane Colleyville, TX 3
    • 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.10
    •  
  • 115 Bremen Drive Hurst, TX 1
    • 4 beds 2 baths ∙ 2,156 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,156 Sqft ∙ Built 1995
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.10
    •  
  • 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 4
    • 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 5
    • 3 beds 2 baths ∙ 2,416 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,416 Sqft ∙ Built 1995
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
PROPERTY LISTING DETAILS
Jacob Ascher
Veteran Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14524735
Last Updated: 03/20/2021
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