Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

15612 Oak Pointe Drive Fort Worth, TX 76177

4 Beds 3 Baths 2,511 sqft Built 2017

INVESTimate

$304,900

List Price

$2,320

$2,088 - $2,552

Rent Est.

$327,524  ( +7.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $121.43
  • 6 Days on Market
  • MLS # : 14416616
  • Updated Date : 08/25/2020 at 18:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,511 sqft
  • Baths : 3 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

2017 Dr Horton Home with excellent floor plan of 4 bedrooms downstairs including the master. The second floor has a large living area full bath and closet. The spacious kitchen features granite counters, an island & also a coffee bar. Covered back patio faces east for sun free evening relaxation. Gently lived in and ready for new owners. Conveniently close to NWISD schools and Champions Circle shops, and Tanger Outlets.

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: Beechwood Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Beechwood Creeks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
W.r. Hatfield Elementary School Primary Regular 411 30 6
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

W.r. Hatfield Elementary School

  • Education Level: Primary
  • # of students: 411
  • # of teachers: 30
6
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$274,410$335,390$304,900

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,125
Property Tax -$635
Property Insurance -$172
HOA -$45
Property Management Fees -$99
CASH FLOW
$243

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.

$304,900

PROJECTED PRICE

$2,320

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$40,216

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,310

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,2053$2,2504$2,3205$2,450
$2,450
RENT COMPS ANALYSIS
  • 15612 Oak Pointe Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.92
    •  
  • 15940 Blaketree Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 2010
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.87
    •  
  • 15824 Coyote Hill Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,349 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,349 Sqft ∙ Built 2009
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,205
    • $0.94
    •  
  • 2444 Open Range Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2018
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 15725 Mirasol Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 2017
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.01
    •  
PROPERTY LISTING DETAILS
Melanie Hunt
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416616
Last Updated: 08/25/2020
BESbswy