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10232 Lakemont Drive Fort Worth, TX 76131

4 Beds 4 Baths 3,100 sqft Built 2021

$381,908

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $123.20
  • 3 Days on Market
  • MLS # : 14485349
  • Updated Date : 12/11/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,100 sqft
  • Baths : 3 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready March 2021! Try a new recipe in the Bexar’s impressive kitchen, complete with a useful island and large pantry. Modern linen cabinets, ash quartz counters, grey hexagonal tile, light gray carpet, and ivory oak vinyl plank in our Elegant 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
 

$343,717$420,099$381,908

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,409
Property Tax -$926
Property Insurance -$206
HOA -$50
Property Management Fees -$99
CASH FLOW
-$631

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.

$381,908

PROJECTED PRICE

$2,060

PROJECTED RENT

0.54%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,206

INVESTMENT

$103,206

Down Payment
$95,477
Rehab Estimate
$2,000
Closing Costs
$5,729

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,409

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,477
Loan Amount $286,431
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,023

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9504$2,0605$2,095
$2,095
RENT COMPS ANALYSIS
  • 10232 Lakemont Drive Fort Worth, TX 4
    • 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.66
    •  
  • 10444 Turning Leaf Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2005
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.63
    •  
  • 10401 Hideaway Trail Fort Worth, TX 2
    • 4 beds 3 baths ∙ 3,038 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,038 Sqft ∙ Built 2005
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 10512 Turning Leaf Trail Fort Worth, TX 3
    • 4 beds 3 baths ∙ 3,045 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,045 Sqft ∙ Built 2005
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 10300 Pyrite Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2006
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.70
    •  
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 #: 14485349
Last Updated: 12/11/2020
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