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10517 Big Lagoon Drive Fort Worth, TX 76179

3 Beds 2 Baths 1,394 sqft Built 2021

$298,778

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $214.33
  • 3 Days on Market
  • MLS # : 14522938
  • Updated Date : 02/26/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,394 sqft
  • Baths : 2 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready June 2021! Inside this Braman ranch plan, the open-concept living space is anchored by the large kitchen island. White cabinets with sparkly white granite countertops, cool grey EVP flooring with greyish brown carpet in our Distinct package. 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 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: 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
 

$268,900$328,656$298,778

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,038
Property Tax -$727
Property Insurance -$127
HOA -$50
Property Management Fees -$99
CASH FLOW
-$431

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.

$298,778

PROJECTED PRICE

$1,610

PROJECTED RENT

0.54%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,176

INVESTMENT

$81,176

Down Payment
$74,695
Rehab Estimate
$2,000
Closing Costs
$4,482

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,038

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,695
Loan Amount $224,084
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$7

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.93

    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$1,6104$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 10517 Big Lagoon Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.93
    •  
  • 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 #: 14522938
Last Updated: 02/26/2021
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