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13501 Lost Spurs Road Fort Worth, TX 76262

3 Beds 2 Baths 1,646 sqft Built 2001

$222,800

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $135.36
  • 2 Days on Market
  • MLS # : 14478627
  • Updated Date : 12/04/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,646 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

WELCOME HOME! Beautifully updated home offers modern farmhouse charm. Bright open floor plan is terrific for entertaining and spending time with family. Kitchen features white cabinets, concrete countertops, open shelving and stainless steel appliances updated in 2016. Expansive primary suite with ensuite bath offers plenty of space for relaxation. Secondary bedrooms are spacious and bright with generous closets. HVAC system replaced in 2019. Gutters installed in 2017. Home is located steps away from the community playground. Both the elementary and middle school are located within the neighborhood. Prime location offers quick access to 170, 114 & I-35W. Shopping, restaurants, coffee shops are nearby.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Lost Spurs

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k350k

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

Neighborhood: Lost Spurs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9712579

* 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
J. Lyndal Hughes Elementary School Primary Regular 547 35 5
John M. Tidwell Middle School Middle Regular 1,048 65 8

J. Lyndal Hughes Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
5
GreatSchools Rating

John M. Tidwell Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 65
8
GreatSchools Rating
 

$200,520$245,080$222,800

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$822
Property Tax -$511
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$4

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.

$222,800

PROJECTED PRICE

$1,550

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 12.3%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,792

INVESTMENT

$64,792

Down Payment
$55,700
Rehab Estimate
$5,750
Closing Costs
$3,342

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$822

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,700
Loan Amount $167,100
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$11,321

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,547

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5554$1,5955$1,725
$1,725
RENT COMPS ANALYSIS
  • 13501 Lost Spurs Road Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 3405 Westfork Ranch Road Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2002
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 3609 Silverado Trail Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2001
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $0.93
    •  
  • 3425 Bandera Ranch Road Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2002
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 3625 Cripple Creek Trail Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2000
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.93
    •  
PROPERTY LISTING DETAILS
Renee Pellet
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478627
Last Updated: 12/04/2020
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