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1500 Fairmount Avenue Fort Worth, TX 76104

3 Beds 3 Baths 2,284 sqft Built 2015

$525,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $229.86
  • 1 Days on Market
  • MLS # : 14467760
  • Updated Date : 11/07/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,284 sqft
  • Baths : 2 full , 1 half
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

The DARLING craftsman style house was built in 2015 and beautifully fits the neighborhood. The home blends historic features like the large front porch, shaker cabinets and built-ins with modern floorplan, kitchen, marble baths and 10 ft ceilings. The interior has an open floor plan for living, dining and kitchen. The spacious owner's suite is located on the first floor with private bath and huge walk-in closet. Upstairs features a living space and 2 additional bedrooms. The backyard has privacy fence, patio with pergola and 1 car garage.

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: Fairmount

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k330k

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

Neighborhood: Fairmount

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9191924

* 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
De Zavala Elementary School Primary Regular 359 25 3
Daggett Middle School Middle Regular 443 35 4
R.l. Paschal High School High Regular 2,610 162 6

De Zavala Elementary School

  • Education Level: Primary
  • # of students: 359
  • # of teachers: 25
3
GreatSchools Rating

Daggett Middle School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 35
4
GreatSchools Rating

R.l. Paschal High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 162
6
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$1,937
Property Tax -$1,204
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
-$459

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$525,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $2,977

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,9403$3,2004$3,300
$3,300
RENT COMPS ANALYSIS
  • 1500 Fairmount Avenue Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $1.29
    •  
  • 1921 S Henderson Street Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2007
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.25
    •  
  • 2837 Willing Avenue Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,438 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,438 Sqft ∙ Built 2006
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.31
    •  
  • 2641 Frazier Avenue Fort Worth, TX 4
    • 4 beds 4 baths ∙ 2,437 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,437 Sqft ∙ Built 2018
    property image
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.35
    •  
PROPERTY LISTING DETAILS
Ashley Mooring
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467760
Last Updated: 11/07/2020
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