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4612 Lafite Lane Colleyville, TX 76034

4 Beds 3 Baths 2,929 sqft Built 2017

$649,900

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $221.88
  • 4 Days on Market
  • MLS # : 14480846
  • Updated Date : 12/03/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,929 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Stunning luxury home in the gorgeous gated community of Creekside in Colleyville. As you enter you are greeted with luxurious views of the water. Beautiful spiral staircase with vaulted ceilings. Open concept living, dining and kitchen area. Oversized master retreat with windows facing the water. Upstairs offers an additional flex space along with two additional bedrooms and full bath. Walking and biking trails surround. Walk to shopping, restaurants, movies and more. New addition to outside is a outdoor kitchen BBQ. Washer Dryer and Refrigerator included. All furniture available for purchase also.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Southeast Colleyville

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $123k615k

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

Neighborhood: Southeast 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
Heritage Elementary School Primary Regular 454 29 9
Colleyville Middle School Middle Regular 725 40 9
Colleyville Heritage High School High Regular 2,222 135 8

Heritage Elementary School

  • Education Level: Primary
  • # of students: 454
  • # of teachers: 29
9
GreatSchools Rating

Colleyville Middle School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 40
9
GreatSchools Rating

Colleyville Heritage High School

  • Education Level: High
  • # of students: 2,222
  • # of teachers: 135
8
GreatSchools Rating
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$2,398
Property Tax -$1,252
Property Insurance -$196
HOA -$163
Property Management Fees -$99
CASH FLOW
-$1,338

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.

$649,900

PROJECTED PRICE

$2,770

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$16

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $3,215

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,770
1$2,7702$2,8953$3,1954$3,2005$3,500
$3,500
RENT COMPS ANALYSIS
  • 4612 Lafite Lane Colleyville, TX 1
    • 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $0.95
    •  
  • 4113 Parkview Court Bedford, TX 2
    • 4 beds 4 baths ∙ 2,993 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,993 Sqft ∙ Built 2002
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.97
    •  
  • 3701 Post Oak Trail Colleyville, TX 3
    • 3 beds 3 baths ∙ 2,829 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,829 Sqft ∙ Built 2010
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.13
    •  
  • 5053 Heritage Oaks Drive Colleyville, TX 4
    • 4 beds 3 baths ∙ 2,857 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,857 Sqft ∙ Built 2010
    property image
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.12
    •  
  • 3764 Shumard Oak Lane Colleyville, TX 5
    • 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 2009
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.17
    •  
PROPERTY LISTING DETAILS
Janet Uszynski
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480846
Last Updated: 12/03/2020
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