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10605 Enchanted Rock Way Fort Worth, TX 76126

5 Beds 3 Baths 2,937 sqft Built 2021

$362,900

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $123.56
  • 4 Days on Market
  • MLS # : 14500267
  • Updated Date : 01/15/2021 at 09:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,937 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

The Masters Plus floor plan expands the overall living space to 2,937 square feet. The 5-bedroom layout still flows with finesse, just with an added media room for entertaining, living, relaxing, and making the most of your life. The luster of silver elevates gray to a new level of style. The white cabinets are blended with a mingling of gray, greige, and silver hues in the granite countertop, tile, hardwood floors, walls, and carpet. Ventana is just minutes from downtown while also close to Benbrook Lake—truly the best of both worlds! The 2,400-square-foot pavilion, swimming pool, and park connect you with your neighbors, who share the desire to live well, happy, and healthy. Estimated completion May, 2021.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k476k

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

Zip Code: 76126

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
Westpark Elementary School Primary Regular 484 25 8
Benbrook Middle High School Middle Regular 911 59 5
Benbrook Middle High School High Regular 911 59 5

Westpark Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 25
8
GreatSchools Rating

Benbrook Middle High School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating

Benbrook Middle High School

  • Education Level: High
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating
 

$326,610$399,190$362,900

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,260
Property Tax -$782
Property Insurance -$197
HOA -$70
Property Management Fees -$99
CASH FLOW
$131

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.

$362,900

PROJECTED PRICE

$2,540

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.6%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$98,169

INVESTMENT

$98,169

Down Payment
$90,725
Rehab Estimate
$2,000
Closing Costs
$5,444

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,260

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,725
Loan Amount $272,175
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$25,916

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,516

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,045
1$2,0452$2,5403$2,7504$2,850
$2,850
RENT COMPS ANALYSIS
  • 10605 Enchanted Rock Way Fort Worth, TX 2
    • 5 beds 3 baths ∙ 2,937 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,937 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.86
    •  
  • 10401 Barber Lane Benbrook, TX 1
    • 5 beds 3 baths ∙ 2,822 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,822 Sqft ∙ Built 2005
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.72
    •  
  • 5220 Katy Rose Court Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,957 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,957 Sqft ∙ Built 2012
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.93
    •  
  • 5148 Concho Valley Trail Fort Worth, TX 4
    • 5 beds 4 baths ∙ 3,094 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,094 Sqft ∙ Built 2013
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500267
Last Updated: 01/15/2021
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