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10517 Lequoia Street Fort Worth, TX 76179

4 Beds 2 Baths 1,731 sqft Built 2021

$316,620

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 : $182.91
  • 4 Days on Market
  • MLS # : 14536004
  • 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 May 2021! Unwind in the private Callaghan plan main floor primary suite, complete with a sizeable walk-in closet. White cabinets with pearl silver granite countertops, cool grey EVP flooring and multi-tone tweed carpet in our Sleek 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 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
 

$284,958$348,282$316,620

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 -$1,100
Property Tax -$770
Property Insurance -$127
HOA -$50
Property Management Fees -$99
CASH FLOW
-$486

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.

$316,620

PROJECTED PRICE

$1,660

PROJECTED RENT

0.52%

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$85,904

INVESTMENT

$85,904

Down Payment
$79,155
Rehab Estimate
$2,000
Closing Costs
$4,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,100

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,155
Loan Amount $237,465
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$2

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
  • 10517 Lequoia Street 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 #: 14536004
Last Updated: 03/18/2021
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