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1005 Terrace View Drive Fort Worth, TX 76108

4 Beds 4 Baths 2,763 sqft Built 2004

$315,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $114.01
  • 1 Days on Market
  • MLS # : 14532039
  • Updated Date : 03/13/2021 at 18:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,763 sqft
  • Baths : 3 full , 1 half
Listing Agent

Manley Real Estate Brokerage

Listing Agent's Description

Beautiful Home in the Vista West addition. Wonderful neighborhood with a great sense of family and pride in ownership. This is a Gem of a house and a rare find with Crown Molding throughout and 18 foot ceilings in the living room creating an open area that is delightful. enjoy the fireplace in those cozy nights and prepare a chefs delight in this amazing kitchen with just installed granite countertops and a tub sink with a new garbage disposal. The interior of the house has just been painted and the HVAC unit is less than a year old. Almost a quarter acre lot with a covered patio and extended concrete patio with a firepit and grill. One house away from community pool!! Professional pictures coming soon!!

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: Vista West

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k246k

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

Neighborhood: Vista West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191887

* 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
Blue Haze Elementary School Primary Regular 844 48 7
Brewer Middle School Middle Regular 986 55 6
Brewer High School High Regular 1,730 104 4

Blue Haze Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 48
7
GreatSchools Rating

Brewer Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating

Brewer High School

  • Education Level: High
  • # of students: 1,730
  • # of teachers: 104
4
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,094
Property Tax -$722
Property Insurance -$187
HOA -$37
Property Management Fees -$99
CASH FLOW
-$219

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,9204$1,9995$2,000
$2,000
RENT COMPS ANALYSIS
  • 1005 Terrace View Drive Fort Worth, TX 3
    • 4 beds 4 baths ∙ 2,763 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,763 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.69
    •  
  • 1316 Wind Star Way Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,496 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,496 Sqft ∙ Built 2006
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 10141 Chapel Rock Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 2001
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.67
    •  
  • 10601 Bluestone Road Fort Worth, TX 4
    • 4 beds 3 baths ∙ 3,112 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,112 Sqft ∙ Built 2004
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.64
    •  
  • 10740 Lipan Trail Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
PROPERTY LISTING DETAILS
Luis Nardini
Manley Real Estate Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532039
Last Updated: 03/13/2021
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