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120 Tusk Court Weatherford, TX 76085

4 Beds 3 Baths 2,618 sqft Built 2013

$500,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $190.99
  • 2 Days on Market
  • MLS # : 14504889
  • Updated Date : 01/30/2021 at 14:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,618 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Bring the horses! This stunning 4 bedroom 2.5 bath sits on over 4 very private acres in north Parker County, Texas. Wonderful open floor plan with boxed ceilings, wood floors, and walls of windows. Large kitchen with custom cabinets. A beautiful floor to ceiling see-through fireplace anchors the living room and the formal dining. Master suite with vaulted ceiling. Huge upstairs bonus room. The new outdoor covered patio has a farm sink, granite countertops, bar area, and is a great place to entertain and enjoy the beautiful country setting. This property backs up to Ash Creek which provides complete privacy in the backyard. 40x50 workshop with electricity. Great location only 23 miles from downtown Ft. Worth!

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

Zip Code: 76085

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k269k

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

Zip Code: 76085

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11081734

* 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
Cross Timbers Elementary School Primary Regular 509 30 7
Forte Junior High School Middle Regular 448 28 5
Azle High School High Regular 1,742 107 7

Cross Timbers Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 30
7
GreatSchools Rating

Forte Junior High School

  • Education Level: Middle
  • # of students: 448
  • # of teachers: 28
5
GreatSchools Rating

Azle High School

  • Education Level: High
  • # of students: 1,742
  • # of teachers: 107
7
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,737
Property Tax -$1,064
Property Insurance -$178
Property Management Fees -$99
CASH FLOW
-$828

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$500,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$7

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,513

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,550
$2,550
RENT COMPS ANALYSIS
  • 120 Tusk Court Weatherford, TX 1
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 116 Sablewood Court Azle, TX 2
    • 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2016
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Tara Stark
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504889
Last Updated: 01/30/2021
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