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13144 Padre Avenue Fort Worth, TX 76244

4 Beds 2 Baths 1,798 sqft Built 2005

$279,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $155.17
  • 2 Days on Market
  • MLS # : 14512819
  • Updated Date : 02/06/2021 at 21:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,798 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

MOVE-IN READY This charming 4 bedroom home features an open floor plan with spacious living area, wood like floors, gas fireplace & decorative lighting. Enjoy cooking in your eat-in kitchen with recently replaced 5 burner gas range with double oven, built-in microwave & walk in pantry. Work from home in your separate office with double doors & crown molding. The owners retreat features a walk in closet, updated bathroom vanity with dual sinks & marble top, updated floors, garden tub & separate shower. Relax in your tranquil backyard with covered patio, extended brick grill area & plenty of room for pets & play. Neighborhood amenities include pool, walking-jogging paths, park & playground. New roof in 2020.

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

Neighborhood: Harvest Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Harvest Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Woodland Springs Elementary School Primary Regular 526 38 6
Timbercreek High School High Regular 2,957 160 8
Timbercreek High School High Unknown NA

Woodland Springs Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 38
6
GreatSchools Rating

Timbercreek High School

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

Timbercreek High School

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

$251,100$306,900$279,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$969
Property Tax -$640
Property Insurance -$131
HOA -$35
Property Management Fees -$99
CASH FLOW
-$164

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.

$279,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,546

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,699

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7104$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 13144 Padre Avenue Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.95
    •  
  • 4413 Ravensbrook Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2005
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 4429 Westbend Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2005
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 13232 Harvest Ridge Road Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2002
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 4405 Blooming Court Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2006
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jeanine Kleinhammer
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512819
Last Updated: 02/06/2021
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