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15701 Wheelwright Lane Fort Worth, TX 76177

3 Beds 2 Baths 2,020 sqft Built 2017

$325,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $160.89
  • 3 Days on Market
  • MLS # : 14511770
  • Updated Date : 02/04/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,020 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Open House will be Saturday February 6th, 2021 from 1-4pm. Adorable 3 year old one story in a golf course community that boasts a corner backyard, 3 bedrooms, office, mudroom, and a large open living, kitchen, dining area is looking for its next owners. You will enjoy this well maintained home that has all the extras including upgraded wood look tile in living areas and bathrooms, all white cabinetry, a large yard (big enough for a pool or garden), blinds and the curtains all stay with the home. Neighborhood park, pet area and pool are just 2 blocks away. Tanger Outlet mall, entertainment and many dining opportunities are close by!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,129
Property Tax -$677
Property Insurance -$144
HOA -$46
Property Management Fees -$99
CASH FLOW
-$65

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.

$325,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,535

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,111

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$1,9503$2,0304$2,1505$2,180
$2,180
RENT COMPS ANALYSIS
  • 15701 Wheelwright Lane Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.00
    •  
  • 15729 Bent Rose Way Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2013
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.02
    •  
  • 2433 Clay Creek Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2018
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 2340 Boot Jack Road Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2017
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.07
    •  
  • 2433 Whispering Pines Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2018
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.04
    •  
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 #: 14511770
Last Updated: 02/04/2021
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