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4809 Lafite Lane Colleyville, TX 76034

4 Beds 4 Baths 2,950 sqft Built 2020

$629,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $213.22
  • 9 Days on Market
  • MLS # : 14456476
  • Updated Date : 10/28/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,950 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Elite

Listing Agent's Description

Superb investment in prestigious gated Creekside! Over $100,000 builder upgrades. Short walk to Grapevine -Colleyville schools, workout facilities, shopping and resturants. Spacious living room connects to large gourmet kitchen which offers a large Island,plenty of cabinets and counter space. Separate dining room privacy. Striking master bedroom has sitting area and an impressive bath. Upstairs features 1 bedroom with their own bath and a second living. Plantation shutters on all windows. The outdoor living area features a large covered patio .

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: 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
 

$566,100$691,900$629,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,321
Property Tax -$1,212
Property Insurance -$198
HOA -$163
Property Management Fees -$99
CASH FLOW
-$1,362

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$629,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.42%

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) 3.00%
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-$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$168,685

INVESTMENT

$168,685

Down Payment
$157,250
Rehab Estimate
$2,000
Closing Costs
$9,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,250
Loan Amount $471,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$30

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $3,238

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,630
1$2,6302$2,8953$3,1954$3,2005$3,500
$3,500
RENT COMPS ANALYSIS
  • 4809 Lafite Lane Colleyville, TX 1
    • 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.89
    •  
  • 4113 Parkview Court Bedford, TX 2
    • 4 beds 4 baths ∙ 2,993 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,993 Sqft ∙ Built 2002
    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
    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
    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
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.17
    •  
PROPERTY LISTING DETAILS
Sharon Parrish
Re/max Elite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14456476
Last Updated: 10/28/2020
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