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1001 Boulder Road Weatherford, TX 76085

3 Beds 2 Baths 2,033 sqft Built 2020

INVESTimate

$314,990

List Price

$1,870

$1,683 - $2,057

Rent Est.

$332,629  ( +5.60%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $154.94
  • 7 Days on Market
  • MLS # : 14417536
  • Updated Date : 08/21/2020 at 10:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,033 sqft
  • Baths : 2 full
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

Inside the 2,033-square-foot plan is designed with the busy family in mind. Keep all the main living concentrated in an open floor plan where walls don’t divide you. Whether you’re watching television in the large family room, entertaining in the dining room, or handling the kitchen duties, you can see everyone and everything. The kltchen’s center island functions like a hub. Your master suite is tucked away in the farthest corner of this single-level floor plan. The master bath includes both a soaking tub and walk-in shower, plus dual vanities and a private water closet, so it’s very shareable. The Cibolo also gives you the freedom of a flex room off the foyer.

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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: Meadow Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k325k

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

Neighborhood: Meadow Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11212060

* 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
Snow Heights Elementary School Primary Regular 431 25 7
North Richland Middle School Middle Regular 827 57 7
Richland High School High Regular 2,137 135 7

Snow Heights Elementary School

  • Education Level: Primary
  • # of students: 431
  • # of teachers: 25
7
GreatSchools Rating

North Richland Middle School

  • Education Level: Middle
  • # of students: 827
  • # of teachers: 57
7
GreatSchools Rating

Richland High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 135
7
GreatSchools Rating
 

$283,491$346,489$314,990

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,162
Property Tax -$568
Property Insurance -$145
HOA -$33
Property Management Fees -$99
CASH FLOW
-$137

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$314,990

PROJECTED PRICE

$1,870

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.60%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,472

INVESTMENT

$85,472

Down Payment
$78,748
Rehab Estimate
$2,000
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,748
Loan Amount $236,243
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$7,864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,891

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,8704$2,000
$2,000
RENT COMPS ANALYSIS
  • 1001 Boulder Road Weatherford, TX 3
    • 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.92
    •  
  • 1212 Rebecca Lane Saginaw, TX 1
    • 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 2018
    LEASED 03/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 6204 Dream Dust Drive North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2005
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 5720 Hilton Head Drive North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 2005
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
PROPERTY LISTING DETAILS
Clinton Shipley
Ntex Realty, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417536
Last Updated: 08/21/2020
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