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15640 Fire Creek Lane Fort Worth, TX 76177

4 Beds 4 Baths 3,043 sqft Built 2012

$400,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $131.45
  • 5 Days on Market
  • MLS # : 14539559
  • Updated Date : 03/26/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,043 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful two story four bedroom, three and a half bath home in a golf course community is ready for new owners! As you walk in you notice the extra touches, including upgraded kitchen appliances in a dream kitchen that is part of the expansive open living area downstairs that includes the front living and dining area, kitchen with butlers pantry, eating area and large family room with custom stone fireplace that opens out to a nice screened in porch that overlooks the greenbelt. Downstairs includes primary bedroom and a half bath. Upstairs, two of the bedrooms share a Jack and Jill bath, third bedroom has its own bath with a large walk in closet and there is also a large loft and media room to enjoy!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Oak Creek Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Oak Creek Trails

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
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,389
Property Tax -$834
Property Insurance -$203
HOA -$33
Property Management Fees -$99
CASH FLOW
-$108

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.

$400,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
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.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,890

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,663

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,325
1$2,3252$2,4003$2,4504$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 15640 Fire Creek Lane Fort Worth, TX 3
    • 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.81
    •  
  • 15737 Barton Ridge Drive Fort Worth, TX 1
    • 4 beds 4 baths ∙ 2,818 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,818 Sqft ∙ Built 2017
    property image
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.83
    •  
  • 15636 Gatehouse Drive Fort Worth, TX 2
    • 4 beds 4 baths ∙ 2,821 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,821 Sqft ∙ Built 2007
    property image
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.85
    •  
  • 15704 Bent Rose Way Fort Worth, TX 4
    • 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 2008
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.88
    •  
  • 2016 Eagle Boulevard Fort Worth, TX 5
    • 4 beds 4 baths ∙ 2,877 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,877 Sqft ∙ Built 2018
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.94
    •  
PROPERTY LISTING DETAILS
Debbie Smith
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539559
Last Updated: 03/26/2021
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