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1412 N California Parkway Fort Worth, TX 76115

3 Beds 2 Baths 1,340 sqft Built 2020

INVESTimate

$210,000

List Price

$1,300

$1,170 - $1,430

Rent Est.

$235,221  ( +12.01%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $156.72
  • 5 Days on Market
  • MLS # : 14418956
  • Updated Date : 08/22/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

New construction with open concept, master bedroom with walk in closet, separate laundry room, tile floors and granite counter tops

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: North Greenbriar

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $63k243k

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

Neighborhood: North Greenbriar

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6741734

* 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
Greenbriar Elementary School Primary Regular 590 35 2
Wedgwood Middle School Middle Regular 931 54 4
South Hills High School High Regular 1,846 108 3

Greenbriar Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 35
2
GreatSchools Rating

Wedgwood Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 54
4
GreatSchools Rating

South Hills High School

  • Education Level: High
  • # of students: 1,846
  • # of teachers: 108
3
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$775
Property Tax -$481
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
-$160

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.01%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,650

INVESTMENT

$57,650

Down Payment
$52,500
Rehab Estimate
$2,000
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,579

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,296

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3003$1,3504$1,3755$1,450
$1,450
RENT COMPS ANALYSIS
  • 1412 N California Parkway Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
  • 1232 California Parkway Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 2002
    property image
    LEASED 02/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.99
    •  
  • 1182 Kielder Circle Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 2006
    property image
    LEASED 03/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
  • 1168 Sunderland Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2006
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.92
    •  
  • 301 Dupont Circle Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 2006
    property image
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
PROPERTY LISTING DETAILS
Hector Espinoza
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418956
Last Updated: 08/22/2020
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