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1448 Castle Ridge Road Fort Worth, TX 76140

3 Beds 2 Baths 1,446 sqft Built 2005

$189,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $130.71
  • 4 Days on Market
  • MLS # : 14464366
  • Updated Date : 11/05/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,446 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

PRIDE OF OWNERSHIP ABOUNDS in this Adorable 3 bedroom, 2 bath home featuring granite counters, farm sink, laminate flooring and tastefully painted throughout. Relax in your back yard oasis complete with cement patio with pergola. MOVE IN READY

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: Kingspoint

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Kingspoint

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661734

* 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
Townley Elementary School Primary Regular 494 28 6
Charles Baxter Junior High School Middle Regular 855 56 6
Everman Joe C. Bean High School High Regular 1,372 92 4

Townley Elementary School

  • Education Level: Primary
  • # of students: 494
  • # of teachers: 28
6
GreatSchools Rating

Charles Baxter Junior High School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 56
6
GreatSchools Rating

Everman Joe C. Bean High School

  • Education Level: High
  • # of students: 1,372
  • # of teachers: 92
4
GreatSchools Rating
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$697
Property Tax -$433
Property Insurance -$111
HOA -$15
Property Management Fees -$99
CASH FLOW
$45

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.

$189,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$12,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,475

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,265
1$1,2652$1,3753$1,3954$1,4005$1,595
$1,595
RENT COMPS ANALYSIS
  • 1448 Castle Ridge Road Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 1400 Pine Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2004
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.96
    •  
  • 1416 Pine Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 2006
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.04
    •  
  • 1501 Castle Ridge Road Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2005
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
  • 10201 Cherrytree Lane Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 2009
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.12
    •  
PROPERTY LISTING DETAILS
Timothy Beary
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464366
Last Updated: 11/05/2020
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