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14200 Spitfire Trail Fort Worth, TX 76262

4 Beds 2 Baths 2,034 sqft Built 2020

INVESTimate

$399,990

List Price

$2,250

$2,025 - $2,475

Rent Est.

$428,949  ( +7.24%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $196.65
  • 7 Days on Market
  • MLS # : 14417791
  • Updated Date : 08/20/2020 at 15:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,034 sqft
  • Baths : 2 full
Listing Agent

Shirley Boulter Davis, Realtor

Listing Agent's Description

Beautiful one story Drees Custom Home with 4 bedrooms plus a study and 2 full baths. The gourmet kitchen and master bath have the latest in colors and design plus wood floors in some areas. This home sits on a corner lot with an oversized side yard. do not miss seeing this one!

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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: Seventeen Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $104k415k

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

Neighborhood: Seventeen Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9192699

* 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
Cox Elementary Primary Unknown NA
John M. Tidwell Middle School Middle Regular 1,048 65 8

Cox Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

John M. Tidwell Middle School

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

$359,991$439,989$399,990

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,476
Property Tax -$697
Property Insurance -$145
HOA -$60
Property Management Fees -$99
CASH FLOW
-$227

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.

$399,990

PROJECTED PRICE

$2,250

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.24%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,997

INVESTMENT

$107,997

Down Payment
$99,998
Rehab Estimate
$2,000
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,998
Loan Amount $299,993
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,227

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,1003$2,2504$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 14200 Spitfire Trail Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.11
    •  
  • 3925 Eaglerun Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2006
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 3936 Eaglerun Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2006
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.07
    •  
  • 14409 Spitfire Roanoke, TX 4
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2019
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.17
    •  
  • 14305 Tupper Trail Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,129 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,129 Sqft ∙ Built 2019
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.17
    •  
PROPERTY LISTING DETAILS
Shirley Davis
Shirley Boulter Davis, Realtor
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417791
Last Updated: 08/20/2020
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