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1324 Elkford Lane Fort Worth, TX 76247

3 Beds 2 Baths 1,794 sqft Built 2013

$280,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $156.08
  • 4 Days on Market
  • MLS # : 14522330
  • Updated Date : 02/26/2021 at 08:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,794 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2013, this Justin one-story cul-de-sac home offers a patio, granite countertops, and a two-car garage. Home utilities may be turned off due to weather conditions. This home has been virtually staged to illustrate its potential.

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

Neighborhood: Rivers Edge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Rivers Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10452171

* 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
Clara Love Elementary School Primary Regular 689 43 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Clara Love Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 43
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$973
Property Tax -$583
Property Insurance -$131
HOA -$37
Property Management Fees -$99
CASH FLOW
-$163

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.

$280,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,7003$1,7504$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 1324 Elkford Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.93
    •  
  • 16309 Severn Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2011
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 1437 Castlegar Lane Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2012
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 1224 Elkford Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2012
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.96
    •  
  • 1441 Castlegar Lane Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2011
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522330
Last Updated: 02/26/2021
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