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8029 Colbi Lane Fort Worth, TX 76120

3 Beds 2 Baths 1,661 sqft Built 2005

$235,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $141.48
  • 3 Days on Market
  • MLS # : 14525210
  • Updated Date : 03/20/2021 at 05:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,661 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great 3 bedroom family home in the heart of DFW with all solid surface flooring! ALL bedrooms are separate! Updated kitchen with black galaxy granite and chefs vent a hood! Great open concept floorplan plenty of space for everyone. Generously sized bedrooms all with walk in closets! Get ready to enjoy patio dinners outside with expansive deck in your private large backyard! LARGE laundry room with expansive pantry. This home does NOT feel like 1661 sq feet! Come see this great family home while it lasts! Home did NOT lose power or water during winter storms and did not have any damage. Buyer and buyer agent to verify all information.

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: Village Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Village Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Bill J. Elliott Elementary School Primary Regular 650 38 5
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

Bill J. Elliott Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 38
5
GreatSchools Rating

Handley Middle School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 42
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$816
Property Tax -$539
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$3

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.

$235,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$9,434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,665

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5803$1,5954$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 8029 Colbi Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.95
    •  
  • 2536 Big Spring Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 2003
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 2360 Ranger Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2003
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
  • 2317 Ranger Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2005
    property image
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 8168 Whitney Lane Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2003
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
PROPERTY LISTING DETAILS
Shannon Schreyer
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525210
Last Updated: 03/20/2021
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