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10025 Callan Lane Fort Worth, TX 76131

3 Beds 3 Baths 2,497 sqft Built 2020

$334,549

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $133.98
  • 5 Days on Market
  • MLS # : 14473363
  • Updated Date : 11/18/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,497 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready January 2021! Unwind in the McKinnon’s main level primary suite, complete with a luxurious bath and spacious walk-in closet. Modern linen cabinets, ash quartz counters, grey hexagonal tile, light gray carpet, and ivory oak vinyl plank in our Elegant package. Located just a few minutes North of Downtown Fort Worth, enjoy the community amenity center and resort-style pool, within the acclaimed Northwest ISD, along with many schools nearby off of Highway 287. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76131

ZipNIR 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
Sonny And Allegra Nance Elementary School Primary Regular 456 30 5
Chisholm Trail Middle School Middle Regular 899 64 7
Byron Nelson High School High Regular 2,552 147 8

Sonny And Allegra Nance Elementary School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 30
5
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$301,094$368,004$334,549

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,234
Property Tax -$811
Property Insurance -$172
HOA -$50
Property Management Fees -$99
CASH FLOW
-$406

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.

$334,549

PROJECTED PRICE

$1,960

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,655

INVESTMENT

$90,655

Down Payment
$83,637
Rehab Estimate
$2,000
Closing Costs
$5,018

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,234

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,637
Loan Amount $250,912
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,979

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9604$2,1555$2,195
$2,195
RENT COMPS ANALYSIS
  • 10025 Callan Lane Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.78
    •  
  • 10852 Hawks Landing Road Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,383 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,383 Sqft ∙ Built 2005
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 9528 Drovers View Trail Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,485 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,485 Sqft ∙ Built 2007
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 9149 Liberty Crossing Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2006
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,155
    • $0.80
    •  
  • 421 Braewick Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,694 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,694 Sqft ∙ Built 2006
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.81
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473363
Last Updated: 11/18/2020
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