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1041 Mckavett Drive Fort Worth, TX 76140

4 Beds 2 Baths 1,854 sqft Built 2003

$229,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $124.00
  • 5 Days on Market
  • MLS # : 14461546
  • Updated Date : 10/30/2020 at 21:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

Texas Connect Realty, Llc

Listing Agent's Description

4 Bedroom 2 Bath home in highly sought Burleson ISD. Home has a Formal Dining area and 2nd living area with a Large Spacious Kitchen with Breakfast area and Bar. Master Bath has large walk-in closet, Garden Tub, Separate Shower and Dual Sinks. Nice size back yard for your enjoyment.

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: Mission Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Mission Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8351734

* 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
Brock Elementary School Primary Regular 658 38 5
Kerr Middle School Middle Regular 1,258 72 5
Kerr Middle School High Regular 1,258 72 5

Brock Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 38
5
GreatSchools Rating

Kerr Middle School

  • Education Level: Middle
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating

Kerr Middle School

  • Education Level: High
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$848
Property Tax -$527
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
-$79

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.

$229,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,5953$1,6004$1,6795$1,750
$1,750
RENT COMPS ANALYSIS
  • 1041 Mckavett Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.83
    •  
  • 1017 Trinidad Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2006
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 10540 Flagstaff Run Fort Worth, TX 3
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2006
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 1512 Queens Brook Lane Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2006
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,679
    • $0.85
    •  
  • 1037 Mckavett Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 2004
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
PROPERTY LISTING DETAILS
Judy Planas
Texas Connect Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461546
Last Updated: 10/30/2020
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