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1305 Parkers Draw Weatherford, TX 76086

4 Beds 2 Baths 1,983 sqft Built 2021

$321,246

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $162.00
  • 4 Days on Market
  • MLS # : 14512915
  • Updated Date : 02/04/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,983 sqft
  • Baths : 2 full
Listing Agent

Realty World Professionals

Listing Agent's Description

Brand New Home Being Built in Weatherford's Newest Subdivision, Parkers Draw, Spacious Open Floorplan Boasts Massive Kitchen Island & Breakfast Bar Opening to Family Room & Overlooking the Backyard, Wood Look Tile Throughout the Main Living Areas, 10' Ceilings, WBFP, Designer Color Selections & Lighting Package, Optional 4th Bedroom or Study, Spray Foam Insulation for Energy Efficiency! Fully Fenced Yard, Sprinkler System and Landscaping. You will Love this Quaint New Neighborhood with Easy Access to I-20 & Across the Street from Wright Elementary, Walking Distance to Parks & Library! Estimated Completion April 2021, Listing Pictures are an example of the finished product. Don't Miss this Opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Bill W. Wright Elementary School Primary Regular 663 45 4
Hall Middle School Middle Regular 592 41 5
Weatherford High School High Regular 2,238 148 6

Bill W. Wright Elementary School

  • Education Level: Primary
  • # of students: 663
  • # 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
 

$289,121$353,371$321,246

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,116
Property Tax -$684
Property Insurance -$142
HOA -$20
Property Management Fees -$99
CASH FLOW
$150

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$321,246

PROJECTED PRICE

$2,210

PROJECTED RENT

0.69%

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) 3.00%
Vacancy 6.69%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,130

INVESTMENT

$87,130

Down Payment
$80,312
Rehab Estimate
$2,000
Closing Costs
$4,819

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,116

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,312
Loan Amount $240,935
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$26,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,147

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8954$2,1505$2,210
$2,210
RENT COMPS ANALYSIS
  • 1305 Parkers Draw Weatherford, TX 5
    • 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.11
    •  
  • 2005 Lindentree Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2012
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.09
    •  
  • 2214 Brandy Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2010
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 1930 Starwood Drive Weatherford, TX 3
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2010
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.11
    •  
  • 1905 Bay Laurel Drive Weatherford, TX 4
    • 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 2006
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.14
    •  
PROPERTY LISTING DETAILS
Alicia Brunson
Realty World Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512915
Last Updated: 02/04/2021
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