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1140 Blackburn Drive Fort Worth, TX 76120

3 Beds 2 Baths 1,644 sqft Built 2006

$225,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $136.86
  • 3 Days on Market
  • MLS # : 14477203
  • Updated Date : 11/27/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,644 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Pristine home in Blake Meadows on a corner lot with many recent updates. Home features an open floor plan, soaring ceilings, private master with large ensuite bath and walk in closet--plus a study that could be used as a 4th bedroom. The backyard is large and private with great covered patio! Recent updates within past 3 years include; new flooring, paint, roof, fence, duct work and guest bath remodel. Quick and convenient access I30!

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: Blake Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Blake Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9111734

* 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
John T. White Elementary School Primary Regular 761 40 3
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

John T. White Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 40
3
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$830
Property Tax -$516
Property Insurance -$122
HOA -$18
Property Management Fees -$99
CASH FLOW
$25

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.

$225,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.0%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$13,074

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,619

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5353$1,5504$1,5955$1,610
$1,610
RENT COMPS ANALYSIS
  • 1140 Blackburn Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.98
    •  
  • 1016 Fairweather Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2006
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.02
    •  
  • 7540 Arbor Hill Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1988
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.98
    •  
  • 7452 Maroon Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2006
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 916 Iona Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2014
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
PROPERTY LISTING DETAILS
Katy Neely Page
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477203
Last Updated: 11/27/2020
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