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1018 Forest Park Drive Weatherford, TX 76087

4 Beds 4 Baths 3,322 sqft Built 2003

$540,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $162.55
  • 5 Days on Market
  • MLS # : 14484841
  • Updated Date : 12/18/2020 at 10:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,322 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Beautiful, immaculate 4 BR 3.5 BA home in highly sought after Forest Park subdivision in Weatherford. This home is turn key ready, beautifully maintained with large back yard and side entry 3 car garage. Granite counter tops, large master with tray ceiling, crown molding, and his and her closets in bath, jetted tub, walk in shower, separate vanities. Office features wood floors with beautiful wood glass doors. 2 bedrooms on opposite side of master share a jack and jill bath. Dining room features beautiful wood and glass pocket doors. Large back porch. Additional circle drive is convenient for additional off street parking. This home is beautiful inside and out, very clean and ready for move in! A must see home!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Mcanally Intermediate School Primary Regular 785 43 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Mcanally Intermediate School

  • Education Level: Primary
  • # of students: 785
  • # of teachers: 43
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,992
Property Tax -$1,149
Property Insurance -$219
HOA -$7
Property Management Fees -$99
CASH FLOW
-$767

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.

$540,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$15k-$10k-$5.0k$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$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$39

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,912

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,375
1$2,3752$2,7003$2,9504$3,000
$3,000
RENT COMPS ANALYSIS
  • 1018 Forest Park Drive Weatherford, TX 2
    • 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.81
    •  
  • 922 Thistle Hill Trail Weatherford, TX 1
    • 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
  • 3516 Wild Turkey Trail Weatherford, TX 3
    • 4 beds 4 baths ∙ 3,356 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,356 Sqft ∙ Built 2014
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.88
    •  
  • 521 Parker Oaks Lane Hudson Oaks, TX 4
    • 3 beds 3 baths ∙ 3,105 Sqft ∙ Built 2013 3 beds 3 baths ∙ 3,105 Sqft ∙ Built 2013
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jim Duncan
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484841
Last Updated: 12/18/2020
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