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12820 Coast Way Fort Worth, TX 76244

3 Beds 3 Baths 2,311 sqft Built 2017

$340,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $147.12
  • 2 Days on Market
  • MLS # : 14509622
  • Updated Date : 01/30/2021 at 15:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,311 sqft
  • Baths : 3 full
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

Looking for an almost brand new home, with warranties still available in KELLER ISD? Here it is! This home has been greatly taken care of! Beautifully stained concrete, tile, granite and neutral colors make this home attractive for anyone's favorite decorating style! With 3 bedrooms and 3 full baths, gameroom-flex room-3rd living area upstairs, this house has room for everyone! Enjoy sharing meals at the bar top, dining table in open space, or downstairs flex room. Your new backyard is open with many possibilities now with extended patio and pergola, private property neighbors behind you and greenspace. Perfectly located in a small community, but close to schools, shopping, entertainment and more! Welcome home!

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: 76244

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Zip Code: 76244

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Ridgeview Elementary School Primary Regular 634 42 9
Timbercreek High School High Regular 2,957 160 8
Ridgeview Elementary School Primary Unknown NA

Ridgeview Elementary School

  • Education Level: Primary
  • # of students: 634
  • # of teachers: 42
9
GreatSchools Rating

Timbercreek High School

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

Ridgeview Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,181
Property Tax -$779
Property Insurance -$161
HOA -$29
Property Management Fees -$99
CASH FLOW
-$109

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.

$340,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,831

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7993$1,9004$2,0995$2,140
$2,140
RENT COMPS ANALYSIS
  • 12820 Coast Way Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,311 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,311 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.93
    •  
  • 4636 Mountain Oak Street Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 2007
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 4545 Martingale View Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,360 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,360 Sqft ∙ Built 2006
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.76
    •  
  • 13116 Larks View Point Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2011
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 13128 Larks View Point Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2011
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kathryn Macdonald
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509622
Last Updated: 01/30/2021
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