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10200 Pear Street Fort Worth, TX 76244

4 Beds 2 Baths 1,851 sqft Built 2004

INVESTimate

$230,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$250,079  ( +8.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $124.26
  • 3 Days on Market
  • MLS # : 14419567
  • Updated Date : 08/25/2020 at 18:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,851 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

****MULTIPLE OFFERS. HIGHEST AND BEST BY 3:00 pm, WEDNESDAY AUGUST 26th.*****Beautiful single story home in Vista Meadows. Spacious kitchen with dining area and breakfast bar. Ample cabinet and counter space. Tile floors and backsplash. Open concept. Vaulted ceilings. Large living room with an abundance of natural light. Primary bedroom suite. Primary bath includes dual sinks, garden tub, separate shower and walk-in closet. Split bedrooms. Back patio is perfect for BBQ's and relaxation. Fulling fenced backyard. Retaining wall. Community amenities include pool and playground. Close to schools and shopping. Keller ISD.

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: Vista Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Vista Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Eagle Ridge Elementary School Primary Regular 761 50 7
Timberview Middle School Middle Regular 1,113 72 7
Timbercreek High School High Regular 2,957 160 8

Eagle Ridge Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 50
7
GreatSchools Rating

Timberview Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 72
7
GreatSchools Rating

Timbercreek High School

  • Education Level: High
  • # of students: 2,957
  • # of teachers: 160
8
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$849
Property Tax -$527
Property Insurance -$134
HOA -$25
Property Management Fees -$99
CASH FLOW
$16

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.

$230,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.73%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 10200 Pear Street Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 10201 Sourwood Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2004
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 10104 Sourwood Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2004
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 10129 Star Fish Street Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 2002
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 4632 Wolf Ridge Way Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 2004
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Michael Kerr
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419567
Last Updated: 08/25/2020
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