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10616 Enchanted Rock Fort Worth, TX 76126

4 Beds 3 Baths 2,447 sqft Built 2021

$346,400

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $141.56
  • 5 Days on Market
  • MLS # : 14499168
  • Updated Date : 01/14/2021 at 08:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,447 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

The Ryder’s 2-story, 4-bedroom design sets up the main level with seamless flow, and places the primary suite with privacy, yet easy access. The formal dining room and upstairs game room expand the home’s versatility. 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

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
 

$311,760$381,040$346,400

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,203
Property Tax -$747
Property Insurance -$169
HOA -$70
Property Management Fees -$99
CASH FLOW
$273

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.

$346,400

PROJECTED PRICE

$2,560

PROJECTED RENT

0.74%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$93,796

INVESTMENT

$93,796

Down Payment
$86,600
Rehab Estimate
$2,000
Closing Costs
$5,196

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,203

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,600
Loan Amount $259,800
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$42,254

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,533

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,1903$2,4504$2,5005$2,560
$2,560
RENT COMPS ANALYSIS
  • 10616 Enchanted Rock Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.05
    •  
  • 5524 Vaquero Road Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.03
    •  
  • 5568 Vaquero Road Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.03
    •  
  • 7501 Hillstone Drive Benbrook, TX 3
    • 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 2010
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.02
    •  
  • 5504 Annie Creek Road Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2017
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
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 #: 14499168
Last Updated: 01/14/2021
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