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13517 Leather Strap Drive Fort Worth, TX 76052

4 Beds 3 Baths 2,298 sqft Built 2006

$299,999

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $130.55
  • 4 Days on Market
  • MLS # : 14465565
  • Updated Date : 11/06/2020 at 11:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,298 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

Multiple offers received highest and best due by Sunday 11-8-2020 6 PM. Come see this large 4-2.5-3 single story home in Sendera Ranch. This home features 4 large bedrooms, a formal living room, an office, large living room with gas fireplace, large master on suite with gas fireplace, covered pergola and outdoor kitchen. Some of the other features are gas appliances and heat, sprinkler system in the front and back, and new carpet in bedrooms. Included in the HOA are currently 3 pools, walking, biking trails, 2 ponds for fishing, basketball court, roller hockey court, 4 play grounds and an annual fireworks show! In Exceptional Northwest ISD!

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: Sendera Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $100k336k

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

Neighborhood: Sendera Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Sendera Ranch Elementary School Primary Regular 599 37 8
Truett Wilson Middle School Middle Unknown 844 58 NA
Byron Nelson High School High Regular 2,552 147 8

Sendera Ranch Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 37
8
GreatSchools Rating

Truett Wilson Middle School

  • Education Level: Middle
  • # of students: 844
  • # of teachers: 58
NA
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,107
Property Tax -$688
Property Insurance -$160
HOA -$46
Property Management Fees -$99
CASH FLOW
-$230

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.

$299,999

PROJECTED PRICE

$1,870

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.7%
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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,873

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8504$1,8705$2,100
$2,100
RENT COMPS ANALYSIS
  • 13517 Leather Strap Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.81
    •  
  • 829 Rio Bravo Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2005
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 813 Poncho Lane Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2006
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 14112 Cochise Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2005
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 14468 Cloudview Way Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2019
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Navjot Singh
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465565
Last Updated: 11/06/2020
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