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12324 Cedar Knoll Drive Fort Worth, TX 76028

4 Beds 2 Baths 2,286 sqft Built 2018

$310,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $135.61
  • 3 Days on Market
  • MLS # : 14463777
  • Updated Date : 11/01/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,286 sqft
  • Baths : 2 full
Listing Agent

Reedy Creek Management Service

Listing Agent's Description

Beautifully maintained 4 bedroom home with a study, formal dining, elegant entryway, and wood burning fireplace to name a few of the fabulous features of this property. The backyard boasts an extended covered back porch with a 25'x10' pergola perfect for outdoor dining and watching the sunset! There is also a newly built 12x10 shed with plenty of room and privacy left to build a pool!

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: 76028

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Zip Code: 76028

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Brock Elementary School Primary Regular 658 38 5
Kerr Middle School Middle Regular 1,258 72 5
Kerr Middle School High Regular 1,258 72 5

Brock Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 38
5
GreatSchools Rating

Kerr Middle School

  • Education Level: Middle
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating

Kerr Middle School

  • Education Level: High
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,144
Property Tax -$711
Property Insurance -$159
HOA -$27
Property Management Fees -$99
CASH FLOW
-$410

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.

$310,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$64

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,707

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6493$1,7304$1,795
$1,795
RENT COMPS ANALYSIS
  • 12324 Cedar Knoll Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,286 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,286 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.76
    •  
  • 1904 Wickham Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 2007
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 1905 Wickham Drive Burleson, TX 2
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.72
    •  
  • 1900 Wickham Drive Burleson, TX 4
    • 3 beds 3 baths ∙ 2,468 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,468 Sqft ∙ Built 2007
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
PROPERTY LISTING DETAILS
Angela Marsh
Reedy Creek Management Service
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463777
Last Updated: 11/01/2020
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