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10228 Lakemont Drive Fort Worth, TX 76131

3 Beds 3 Baths 2,059 sqft Built 2021

$329,545

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $160.05
  • 3 Days on Market
  • MLS # : 14485340
  • Updated Date : 12/11/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,059 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready March 2021! The Fitzhugh plan versatile flex space makes a great home office or game room and storage helps put everything in its place. Gray cabinets, salt 'n pepper granite, white geo backsplash, light gray tile and carpet, and oyster oak vinyl in our Posh 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 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

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
 

$296,591$362,500$329,545

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,216
Property Tax -$799
Property Insurance -$146
HOA -$50
Property Management Fees -$99
CASH FLOW
-$490

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.

$329,545

PROJECTED PRICE

$1,820

PROJECTED RENT

0.55%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,329

INVESTMENT

$89,329

Down Payment
$82,386
Rehab Estimate
$2,000
Closing Costs
$4,943

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,386
Loan Amount $247,159
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,827

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7003$1,8204$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 10228 Lakemont Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.88
    •  
  • 353 Lead Creek Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2015
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.84
    •  
  • 213 Fossil Bridge Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2013
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 10125 Haversham Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 2017
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 321 Emerald Creek Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,991 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,991 Sqft ∙ Built 2017
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
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 #: 14485340
Last Updated: 12/11/2020
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