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108 Rockin River Drive Fort Worth, TX 76120

5 Beds 3 Baths 2,170 sqft Built 2020

$344,990

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $158.98
  • 3 Days on Market
  • MLS # : 14471321
  • Updated Date : 11/20/2020 at 21:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,170 sqft
  • Baths : 3 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Brand new 1 story in Randol Mill Valley Estates! The Juniper plan offers 2170 sq ft of living space spanning 5 bedrooms, 3 full baths, and 2-car garage! Gourmet kitchen overlooks the spacious family room and boasts granite countertops, large center island, electric range and breakfast nook. Master suite and second bedroom & bath located on first floor. This home features features a luxurious bath with a generously-sized walk-in closet. Covered patio area in the backyard is terrific for grilling and entertaining!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: John T. White

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: John T. White

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8551734

* 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
Lowery Road Elementary School Primary Regular 692 39 5
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

Lowery Road Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 39
5
GreatSchools Rating

Handley Middle School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 42
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$310,491$379,489$344,990

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,273
Property Tax -$791
Property Insurance -$153
HOA -$30
Property Management Fees -$99
CASH FLOW
-$115

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.

$344,990

PROJECTED PRICE

$2,230

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$93,422

INVESTMENT

$93,422

Down Payment
$86,248
Rehab Estimate
$2,000
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,248
Loan Amount $258,743
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,143

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8503$1,8954$1,9955$2,230
$2,230
RENT COMPS ANALYSIS
  • 108 Rockin River Drive Fort Worth, TX 5
    • 5 beds 3 baths ∙ 2,170 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,170 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.03
    •  
  • 7977 Meadow View Trail Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 9108 River Trails Boulevard Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 2002
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 3220 Spring Crest Court Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,881 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,881 Sqft ∙ Built 2001
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.01
    •  
  • 9008 River Trails Boulevard Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 2001
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.06
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471321
Last Updated: 11/20/2020
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