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8048 Colbi Lane Fort Worth, TX 76120

3 Beds 3 Baths 3,019 sqft Built 2005

$259,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $86.09
  • 3 Days on Market
  • MLS # : 14470675
  • Updated Date : 11/12/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,019 sqft
  • Baths : 2 full , 1 half
Listing Agent

Omnikey Realty, Llc.

Listing Agent's Description

Welcome Home! Stunning 3 bed 2.5 bath with over 3,000 sq. ft! New roof, new flooring, new paint, too many upgrades to list! See full upgrade list in the transaction desk! Large spacious living area greets you upon entry - true open concept! Flows seamlessly to your eat in ISLAND kitchen with PLENTY of prep and storage space and freshly painted cabinets! Convenient half-bath downstairs - perfect for guests. All bedrooms upstairs! Over-sized Master with HUGE on-suite bath featuring double sinks and separate tub-shower combo! Plenty of closet space! Both secondary bedrooms are a great size! HUGE fenced backyard - perfect for entertaining! 2 car garage completes this gem. Show! Show! Show! This one will go fast.

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: 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$959
Property Tax -$596
Property Insurance -$202
Property Management Fees -$99
CASH FLOW
-$35

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.

$259,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.70%

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-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,606

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8203$2,025
$2,025
RENT COMPS ANALYSIS
  • 8048 Colbi Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 3,019 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,019 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.60
    •  
  • 2345 Ash Grove Trail Fort Worth, TX 1
    • 3 beds 3 baths ∙ 3,016 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,016 Sqft ∙ Built 2005
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.55
    •  
  • 2444 Big Spring Drive Fort Worth, TX 3
    • 4 beds 4 baths ∙ 3,328 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,328 Sqft ∙ Built 2003
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.61
    •  
PROPERTY LISTING DETAILS
Michael Slaughter
Omnikey Realty, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470675
Last Updated: 11/12/2020
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