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10624 Oates Branch Lane Fort Worth, TX 76126

4 Beds 3 Baths 2,545 sqft Built 2021

$440,900

List Price

$2,540

$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 : $173.24
  • 5 Days on Market
  • MLS # : 14499360
  • Updated Date : 01/13/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,545 sqft
  • Baths : 3 full
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Extended entry with 13-foot ceiling leads to open kitchen, dining area and family room. Kitchen offers generous counter space, corner walk-in pantry and inviting island with built-in seating space. Dining area flows into family room with a wood mantel fireplace and a wall of windows. Game room with French doors just across from kitchen. Primary suite includes double-door entry to primary bath with dual vanities, garden tub, separate glass-enclosed shower and two large walk-in closets. Secondary bedrooms feature walk-in closets. Covered backyard patio. Mud room off two-car garage.

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
 

$396,810$484,990$440,900

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 -$1,531
Property Tax -$950
Property Insurance -$174
HOA -$140
Property Management Fees -$99
CASH FLOW
-$355

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.

$440,900

PROJECTED PRICE

$2,540

PROJECTED RENT

0.58%

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,839

INVESTMENT

$118,839

Down Payment
$110,225
Rehab Estimate
$2,000
Closing Costs
$6,614

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,225
Loan Amount $330,675
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,480

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
  • $1

    LIST RENT PER SQFT
  • $2,500

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2503$2,4504$2,5005$2,540
$2,540
RENT COMPS ANALYSIS
  • 10624 Oates Branch Lane Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.00
    •  
  • 7213 Tour Trail Benbrook, TX 1
    • 3 beds 2 baths ∙ 2,700 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,700 Sqft ∙ Built 2016
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 5224 Cross Plains Court Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 2014
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 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
Larry Delzell
Britton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499360
Last Updated: 01/13/2021
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