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10332 Devin Lane Fort Worth, TX 76053

4 Beds 3 Baths 2,639 sqft Built 2004

$338,900

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $128.42
  • 3 Days on Market
  • MLS # : 14485112
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,639 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Castle Realty

Listing Agent's Description

Beazer homes meet and exceed Energy Star criteria: Owner paid insolation extra (Tyvek ) for outer walls, R-13 wall, R-19 knee wall ,R-22 sloped ceilings and R-38 blown insolation. Brand new AC with14 SEER , Low E-170 windows, 50 gallon of gas water heater, new stove -range convection ,microwave ,repainted whole house and new carpet on 2nd floor, laminate entire first floor. three year old roof , new garage door , even front door. Overall this house is very energy efficiency .

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: Lakeview North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Lakeview North

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
Bellaire Elementary School Primary Regular 738 43 5
Hurst Junior High School Middle Regular 1,052 60 7
Hurst Junior High School High Regular 1,052 60 7

Bellaire Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 43
5
GreatSchools Rating

Hurst Junior High School

  • Education Level: Middle
  • # of students: 1,052
  • # of teachers: 60
7
GreatSchools Rating

Hurst Junior High School

  • Education Level: High
  • # of students: 1,052
  • # of teachers: 60
7
GreatSchools Rating
 

$305,010$372,790$338,900

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,250
Property Tax -$691
Property Insurance -$180
HOA -$22
Property Management Fees -$99
CASH FLOW
$138

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.

$338,900

PROJECTED PRICE

$2,380

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,559

INVESTMENT

$95,559

Down Payment
$84,725
Rehab Estimate
$5,750
Closing Costs
$5,084

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,725
Loan Amount $254,175
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$31,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,340

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,125
1$2,1252$2,3803$2,3954$2,450
$2,450
RENT COMPS ANALYSIS
  • 10332 Devin Lane Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.90
    •  
  • 10308 Devin Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2003
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.82
    •  
  • 9437 Merganser Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,483 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,483 Sqft ∙ Built 2012
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.96
    •  
  • 9365 Shoveler Trail Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,775 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,775 Sqft ∙ Built 2011
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
PROPERTY LISTING DETAILS
Gary Bisha
My Castle Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485112
Last Updated: 12/11/2020
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