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1258 Newcastle Drive Weatherford, TX 76086

4 Beds 2 Baths 1,876 sqft Built 2013

$260,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $138.59
  • 5 Days on Market
  • MLS # : 14470271
  • Updated Date : 12/02/2020 at 23:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,876 sqft
  • Baths : 2 full
Listing Agent

Hbs Real Estate

Listing Agent's Description

Don't miss out on this adorable home, sitting on a corner lot in the best location, right between the Weatherford square and I20. This is a 4 bedroom, 2 bath home with a large living room and kitchen. The kitchen has a ton of cabinet space and granite countertops. Also, there are several windows in the home which allows great light in each room. The home is perfect for entertaining with an open concept and 2 dining rooms. In addition, there is a large backyard with plenty of space for dogs to run and play or for a playset for children. Homes in this area do not last long so call today for a showing.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k258k

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7611734

* 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
Bose Ikard Elementary School Primary Regular 662 45 4
Hall Middle School Middle Regular 592 41 5
Weatherford High School High Regular 2,238 148 6

Bose Ikard Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 45
4
GreatSchools Rating

Hall Middle School

  • Education Level: Middle
  • # of students: 592
  • # of teachers: 41
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$959
Property Tax -$553
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$67

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.

$260,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,993

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,7004$1,9955$2,300
$2,300
RENT COMPS ANALYSIS
  • 1258 Newcastle Drive Weatherford, TX 1
    • 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.90
    •  
  • 1121 Timber Creek Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2002
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 1306 Timber Creek Drive Weatherford, TX 3
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2000
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 324 Jade Lane Weatherford, TX 4
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2008
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.16
    •  
  • 1809 Town Creek Circle Weatherford, TX 5
    • 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2017
    LEASED 06/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
PROPERTY LISTING DETAILS
Marie Hicks
Hbs Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470271
Last Updated: 12/02/2020
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