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1312 Ridgeview Weatherford, TX 76086

4 Beds 2 Baths 2,000 sqft Built 2021

$335,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $167.50
  • 1 Days on Market
  • MLS # : 14526025
  • Updated Date : 03/06/2021 at 18:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

Realty World Professionals

Listing Agent's Description

New Construction in Weatherford's Parkers Draw, Functional Floorplan is Spacious, Light & Bright, Family Room Flows Effortlessly to the Open Kitchen & Massive Island, Wood Look Tile Throughout the Main Living Areas, Beams & Soaring Ceilings, WBFP, Designer Color Selections & Lighting Package, Spray Foam Insulation for Energy Efficiency! Fully Fenced Yard, Sprinkler System & Landscaping. Optional 4th Bedroom or Study, Quiet Neighborhood with Easy Access to I-20 & Across the Street from Wright Elementary, Walking Distance to Parks & Library! Estimated Completion MAY 2021, Listing Pictures are an example of the finished product, brick will be painted.

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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
 

$301,500$368,500$335,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,164
Property Tax -$713
Property Insurance -$143
HOA -$20
Property Management Fees -$99
CASH FLOW
$92

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.

$335,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.67%

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-$2.0k$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,775

INVESTMENT

$90,775

Down Payment
$83,750
Rehab Estimate
$2,000
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,165

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8954$2,1505$2,230
$2,230
RENT COMPS ANALYSIS
  • 1312 Ridgeview Weatherford, TX 5
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.12
    •  
  • 2005 Lindentree Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2012
    property image
    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
    property image
    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
    property image
    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
    property image
    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 #: 14526025
Last Updated: 03/06/2021
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