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13328 Ridgepointe Road Fort Worth, TX 76244

3 Beds 2 Baths 1,444 sqft Built 2002

$260,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $180.06
  • 5 Days on Market
  • MLS # : 14465490
  • Updated Date : 11/05/2020 at 08:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Meticulously maintained 3 brm, 2 bath. Ideally located near I35 and 170! Custom outdoor kitchen, complete with stainless steel gas grill, sink, storage drawers and cooler. Perfect for entertaining. Multi-level patio with pergola sitting area and brand new hot tub. All overlooking a beautiful green space. Upgrades include: new hot tub, outdoor ceiling fan, storage shed, hot water heater, new HVAC, new pantry, new kitchen sink and faucet, new MB toilet and faucet, new living room ceiling fan, new induction electric range, new garbage disposal. This one will go fast, come see it before it's gone.

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: 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
Trinity Meadows Intermediate School Primary Regular 988 58 7
Trinity Springs Middle School Middle Regular 1,061 62 8
Timbercreek High School High Regular 2,957 160 8

Trinity Meadows Intermediate School

  • Education Level: Primary
  • # of students: 988
  • # of teachers: 58
7
GreatSchools Rating

Trinity Springs Middle School

  • Education Level: Middle
  • # of students: 1,061
  • # of teachers: 62
8
GreatSchools Rating

Timbercreek High School

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

$234,000$286,000$260,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$959
Property Tax -$596
Property Insurance -$111
HOA -$33
Property Management Fees -$99
CASH FLOW
-$328

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.

$260,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.57%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,466

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5953$1,5994$1,6005$1,675
$1,675
RENT COMPS ANALYSIS
  • 13328 Ridgepointe Road Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.02
    •  
  • 3728 Cook Court Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2005
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 13201 Settlers Trail Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2006
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.02
    •  
  • 4317 Latigo Circle Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2004
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 4145 W Capstone Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2002
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.00
    •  
PROPERTY LISTING DETAILS
Lorrie Keeling
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465490
Last Updated: 11/05/2020
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