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10609 Los Rios Drive Fort Worth, TX 76179

4 Beds 2 Baths 2,562 sqft Built 2003

$369,990

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $144.41
  • 2 Days on Market
  • MLS # : 14463949
  • Updated Date : 11/07/2020 at 11:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,562 sqft
  • Baths : 2 full
Listing Agent

Prime Realty, Llc

Listing Agent's Description

Beautiful home with 3-car garage on one-acre lot in the sought-after gated neighborhood of Lago Vista at Bonds Ranch. Oversized covered front porch is a perfect place to sit and watch the sunrise. Spacious bedrooms with walk-in closets, study, and a huge kitchen with island, two dining areas, and bay window overlooking acres of open space with Eagle Mountain lake and beautiful Texas sunsets just over the hill. Unfinished bonus room upstairs, which adds even more square footage. Community pool, pond, and playground also featured in the neighborhood.

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: Lago Vista at Bonds Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $104k390k

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

Neighborhood: Lago Vista at Bonds Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9192578

* 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
 

$332,991$406,989$369,990

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,365
Property Tax -$848
Property Insurance -$175
HOA -$76
Property Management Fees -$99
CASH FLOW
-$253

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.

$369,990

PROJECTED PRICE

$2,310

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$2.0k$4.0k$6.0k$8.0k

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$103,797

INVESTMENT

$103,797

Down Payment
$92,498
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,498
Loan Amount $277,493
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,152

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,310
$2,310
RENT COMPS ANALYSIS
  • 10609 Los Rios Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,562 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,562 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.90
    •  
  • 9105 Edenberry Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2018
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
PROPERTY LISTING DETAILS
Cliff Spence
Prime Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463949
Last Updated: 11/07/2020
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