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10612 Enchanted Rock Way Fort Worth, TX 76126

3 Beds 2 Baths 1,971 sqft Built 2021

$324,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $164.84
  • 5 Days on Market
  • MLS # : 14499443
  • Updated Date : 01/13/2021 at 17:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,971 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

The Heisman offers a home office or dual home office space, a home management center, backpack rack or super utility space. The 3-bedroom floor plan offers outstanding flexibility, storage, and livability. When the snow blankets the world it touches, the white coating presents a freshness that shows a hint of the earthy colors beneath. In this palette, white merges with warm grays, a comforting and soft flow of color. 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

Neighborhood: Arcadia Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Arcadia Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Chisolm Trail Intermediate School Primary Regular 883 58 5
Fossil Hill Middle School Middle Regular 918 66 6
Fossil Ridge High School High Regular 2,308 133 7

Chisolm Trail Intermediate School

  • Education Level: Primary
  • # of students: 883
  • # of teachers: 58
5
GreatSchools Rating

Fossil Hill Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 66
6
GreatSchools Rating

Fossil Ridge High School

  • Education Level: High
  • # of students: 2,308
  • # of teachers: 133
7
GreatSchools Rating
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,129
Property Tax -$700
Property Insurance -$141
HOA -$70
Property Management Fees -$99
CASH FLOW
-$419

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$324,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 3.00%
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

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$88,099

INVESTMENT

$88,099

Down Payment
$81,225
Rehab Estimate
$2,000
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$33

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,744

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,8503$1,8904$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 10612 Enchanted Rock Way Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.87
    •  
  • 8913 Heartwood Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2008
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 4016 Shiver Road Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,109 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,109 Sqft ∙ Built 2004
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.90
    •  
  • 9009 Weller Lane Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2010
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
  • 9012 Dry Creek Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 2009
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
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 #: 14499443
Last Updated: 01/13/2021
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