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1247 Elmbrook Drive Kennedale, TX 76060

3 Beds 2 Baths 2,025 sqft Built 1998

$275,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $135.80
  • 3 Days on Market
  • MLS # : 14499118
  • Updated Date : 01/16/2021 at 10:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,025 sqft
  • Baths : 2 full
Listing Agent

Fort Worth Property Group

Listing Agent's Description

Wonderfully updated home with multiple gathering spaces in great neighborhood, close to schools and shopping. As you enter, the owner's study is located on your right with built in shelving, accented with rustic wood wall and glass French doors. There are two main living areas with a see through fireplace between them, providing for multiple options. The kitchen is open to the living area with a casual dining area located adjacent. The kitchen also has a breakfast bar and prep island. The master bedroom has been updated with a luxurious en suite, including floating tub, separate shower, dual vanities and sliding barn doors. Attached please find 360 Virtual Tour to preview property in it's entirety.

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: Steeplechase Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260kPrice in $122k275k

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

Neighborhood: Steeplechase Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261960

* 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
Kennedale High School High Regular 993 60 5

Kennedale High School

  • Education Level: High
  • # of students: 993
  • # of teachers: 60
5
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$955
Property Tax -$635
Property Insurance -$144
HOA -$6
Property Management Fees -$99
CASH FLOW
$30

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.

$275,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.68%

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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$13,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,919

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8704$1,9505$1,975
$1,975
RENT COMPS ANALYSIS
  • 1247 Elmbrook Drive Kennedale, TX 3
    • 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.92
    •  
  • 1128 Fawn Meadow Trail Kennedale, TX 1
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 1118 Greenview Lane Kennedale, TX 2
    • 4 beds 2 baths ∙ 1,971 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,971 Sqft ∙ Built 2001
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 5709 Vandalia Trail Arlington, TX 4
    • 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1996
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
  • 4906 Saddlehorn Drive Arlington, TX 5
    • 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 2004
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.94
    •  
PROPERTY LISTING DETAILS
Sanford Finkelstein
Fort Worth Property Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499118
Last Updated: 01/16/2021
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