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11409 Maddie Avenue Fort Worth, TX 76244

4 Beds 3 Baths 2,682 sqft Built 2012

$314,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $117.08
  • 5 Days on Market
  • MLS # : 14460722
  • Updated Date : 11/02/2020 at 18:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,682 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gather Home Realty

Listing Agent's Description

Open house Sunday, Nov. 8th from 12 to 3. Family home in the Villages of Woodland Springs and Keller ISD. Open floorplan that is great for entertaining, abundant windows with natural light, wood flooring throughout, large kitchen and island, 2 living areas downstairs, all bedrooms are upstairs with walk in closets, master bedroom includes a sitting area, master bath has dual sinks with garden tub and separate shower, built in queen murphy bed in secondary bedroom, new carpet on stairs, new fence, new window over kitchen sink, established veggie garden and fruit trees, greenhouse. Close to dining, shopping, and medical.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Villages of Woodland Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Villages of Woodland Springs

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
Trinity Meadows Intermediate School Primary Regular 988 58 7
Trinity Springs Middle School Middle Regular 1,061 62 8
Timbercreek High School High Regular 2,957 160 8

Trinity Meadows Intermediate School

  • Education Level: Primary
  • # of students: 988
  • # of teachers: 58
7
GreatSchools Rating

Trinity Springs Middle School

  • Education Level: Middle
  • # of students: 1,061
  • # of teachers: 62
8
GreatSchools Rating

Timbercreek High School

  • Education Level: High
  • # of students: 2,957
  • # of teachers: 160
8
GreatSchools Rating
 

$282,600$345,400$314,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,159
Property Tax -$720
Property Insurance -$182
HOA -$100
Property Management Fees -$99
CASH FLOW
-$199

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.

$314,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.66%

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) 8.00%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,960

INVESTMENT

$88,960

Down Payment
$78,500
Rehab Estimate
$5,750
Closing Costs
$4,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,159

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,500
Loan Amount $235,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,038

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0603$2,0954$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 11409 Maddie Avenue Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.77
    •  
  • 5205 Rush Creek Court Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 2002
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 11712 Pheasant Creek Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,768 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,768 Sqft ∙ Built 2003
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 5320 Bellis Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 2001
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.76
    •  
  • 11329 Kenny Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,686 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,686 Sqft ∙ Built 2010
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
PROPERTY LISTING DETAILS
Alicia Fakhari
Gather Home Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460722
Last Updated: 11/02/2020
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