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1016 Meadow Gust Drive Fort Worth, TX 76052

5 Beds 4 Baths 3,967 sqft Built 2018

$445,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $112.18
  • 3 Days on Market
  • MLS # : 14465324
  • Updated Date : 11/06/2020 at 10:26
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,967 sqft
  • Baths : 4 full
Listing Agent

Scottco Realty Group Llc

Listing Agent's Description

BEAUTIFUL OVERSIZED LOT - This home features an AMAZING outdoor space including a Large pergola and 28x16 inground pool found in the astonishing Willow Ridge Estates in Fort Worth with NWISD Schools. Beautiful two story Mansfield plan with brick and stone exterior. LARGE Open concept layout with stainless steel appliances, quartz countertops in kitchen, staggered upper cabinets, & beautiful wall tile in Kitchen. Upgraded tile & wood flooring throughout main living areas. Bay window in Owner's Suite and natural stone-surround fireplace in gathering room. Oversized shower in master bath! Media room will include Projector, Sound System and Projector Screen!

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: Meadow Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $66k243k

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

Neighborhood: Meadow Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7931734

* 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
Liberty Elementary School Primary Regular 493 33 8
Brewer Middle School Middle Regular 986 55 6
Brewer Middle School High Regular 986 55 6

Liberty Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 33
8
GreatSchools Rating

Brewer Middle School

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

Brewer Middle School

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

$400,500$489,500$445,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,642
Property Tax -$1,020
Property Insurance -$256
HOA -$30
Property Management Fees -$99
CASH FLOW
-$707

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.

$445,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$4

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $3,055

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,340
1$2,3402$2,800
$2,800
RENT COMPS ANALYSIS
  • 1016 Meadow Gust Drive Fort Worth, TX 1
    • 5 beds 4 baths ∙ 3,967 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,967 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.59
    •  
  • 1313 Mesa Crest Drive Fort Worth, TX 2
    • 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,631 Sqft ∙ Built 2012
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.77
    •  
PROPERTY LISTING DETAILS
John Cooper
Scottco Realty Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465324
Last Updated: 11/06/2020
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