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10264 Hanks Creek Road Fort Worth, TX 76126

5 Beds 4 Baths 3,592 sqft Built 2020

INVESTimate

$394,900

List Price

$3,380

$3,130 - $3,630

Rent Est.

$416,896  ( +5.57%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $109.94
  • 7 Days on Market
  • MLS # : 14417459
  • Updated Date : 08/25/2020 at 11:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,592 sqft
  • Baths : 4 full
Listing Agent

Mcelroy Team Realty

Listing Agent's Description

This Incredibly immaculate BRAND NEW Trophy Signature Home in the oh so elegant Master Planned Community... Ventana. With every upgrade imaginable, and all the smart home and energy efficiency items this home is a fabulous value!! To see this home 7 days a week, go to the model home in the community on Robel Road and High Bank Road. ***January 15th 2021 estimated completion***

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: 76126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k476k

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

Zip Code: 76126

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
Westpark Elementary School Primary Regular 484 25 8
Benbrook Middle High School Middle Regular 911 59 5
Benbrook Middle High School High Regular 911 59 5

Westpark Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 25
8
GreatSchools Rating

Benbrook Middle High School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating

Benbrook Middle High School

  • Education Level: High
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating
 

$355,410$434,390$394,900

PURCHASE PRICE

$3,042$3,718$3,380

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,380
EXPENSES Loan Payment -$1,457
Property Tax -$840
Property Insurance -$235
HOA -$70
Property Management Fees -$99
CASH FLOW
$679

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.

$394,900

PROJECTED PRICE

$3,380

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.57%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,649

INVESTMENT

$106,649

Down Payment
$98,725
Rehab Estimate
$2,000
Closing Costs
$5,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,725
Loan Amount $296,175
See What Happens When You Reinvest Cash Flow

13.42

YEARS SAVED

$100,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,380

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $3,376

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,380
$3,380
RENT COMPS ANALYSIS
  • 10264 Hanks Creek Road Fort Worth, TX 2
    • 5 beds 4 baths ∙ 3,592 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,592 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,380
    • $0.94
    •  
  • 10223 Trail Ridge Drive Fort Worth, TX 1
    • 5 beds 4 baths ∙ 3,404 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,404 Sqft ∙ Built 2018
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.94
    •  
PROPERTY LISTING DETAILS
Danny Mcelroy
Mcelroy Team Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417459
Last Updated: 08/25/2020
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