Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10508 Big Lagoon Drive Fort Worth, TX 76179

4 Beds 2 Baths 1,731 sqft Built 2021

$315,974

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $182.54
  • 4 Days on Market
  • MLS # : 14535977
  • Updated Date : 03/18/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,731 sqft
  • Baths : 2 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready July 2021! Unwind in the private Callaghan plan main floor primary suite, complete with a sizeable walk-in closet. The open-concept layout and covered outdoor living space are great for entertaining. A fourth bedroom is perfect for guests or larger families. Located just minutes from downtown Fort Worth, community features access to parks, trails, and a owners-only community center. Have fun at the nearby playground and resort-style pool or hop on nearby Business 287 and head out for a night on the town. 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 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76179

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
Eagle Mountain Elementary School Primary Regular 583 32 6
Wayside Middle School Middle Regular 943 52 6
Boswell High School High Regular 1,605 106 7

Eagle Mountain Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 32
6
GreatSchools Rating

Wayside Middle School

  • Education Level: Middle
  • # of students: 943
  • # of teachers: 52
6
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$284,377$347,571$315,974

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,098
Property Tax -$769
Property Insurance -$127
HOA -$50
Property Management Fees -$99
CASH FLOW
-$482

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.

$315,974

PROJECTED PRICE

$1,660

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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-$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$85,733

INVESTMENT

$85,733

Down Payment
$78,994
Rehab Estimate
$2,000
Closing Costs
$4,740

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,098

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,994
Loan Amount $236,981
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,640

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5993$1,6604$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 10508 Big Lagoon Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.96
    •  
  • 3137 Rockwell Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 1,651 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,651 Sqft ∙ Built 2006
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 5805 Mountain Bluff Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 2010
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.96
    •  
  • 10921 Caldwell Lane Fort Worth, TX 4
    • 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 2005
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.95
    •  
  • 10941 Colonial Heights Lane Fort Worth, TX 5
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2005
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
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 #: 14535977
Last Updated: 03/18/2021
BESbswy