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145 Redbud Lane Weatherford, TX 76086

4 Beds 2 Baths 1,848 sqft Built 2005

INVESTimate

$240,000

List Price

$1,760

$1,584 - $1,936

Rent Est.

$256,488  ( +6.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $129.87
  • 7 Days on Market
  • MLS # : 14415629
  • Updated Date : 08/21/2020 at 12:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,848 sqft
  • Baths : 2 full
Listing Agent

Clark Real Estate Group

Listing Agent's Description

Awesome well maintained four bedroom home in Weatherford! Features a spacious primary bedroom and bath with large walk in closet, soaking tub, double vanity and separate shower. Three bedrooms are on the other side of the house for a great split design and share a large hall bathroom with double vanity. Quiet, well maintained neighborhood with NO HOA. Open floor plan with decorative electric fireplace and a great outdoor space with a covered porch, flagstone patio and pergola. Convenient to town and close to the Rick Williamson loop for an easy commute to Metroplex. Laundry room off of the kitchen plus a two car garage. Storage shed in the back yard. This sweet home is ready for a new family to make it theirs.

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k258k

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7611734

* 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
Bill W. Wright Elementary School Primary Regular 663 45 4
Hall Middle School Middle Regular 592 41 5
Weatherford High School High Regular 2,238 148 6

Bill W. Wright Elementary School

  • Education Level: Primary
  • # of students: 663
  • # of teachers: 45
4
GreatSchools Rating

Hall Middle School

  • Education Level: Middle
  • # of students: 592
  • # of teachers: 41
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,584$1,936$1,760

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$886
Property Tax -$511
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$131

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.

$240,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.87%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$24,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,917

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7603$1,7604$1,8505$1,875
$1,875
RENT COMPS ANALYSIS
  • 145 Redbud Lane Weatherford, TX 3
    • 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.95
    •  
  • 1447 Shadow Run Weatherford, TX 1
    • 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1994
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 1440 Vine Street Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2017
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.08
    •  
  • 611 N Rusk Street Weatherford, TX 4
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 2019
    LEASED 03/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 801 Soapberry Drive Weatherford, TX 5
    • 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 2008
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.02
    •  
PROPERTY LISTING DETAILS
Jessica Owen
Clark Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415629
Last Updated: 08/21/2020
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