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1629 Silverstone Drive Weatherford, TX 76087

4 Beds 4 Baths 3,213 sqft Built 2006

$365,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $113.60
  • 5 Days on Market
  • MLS # : 14533821
  • Updated Date : 03/17/2021 at 22:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,213 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ip Realty, Llc

Listing Agent's Description

Nicely updated with over 3,000 sf of space make this the perfect family home! NEW hand scraped hdwoods, vaulted ceilings, and natural light give the living areas a great feel. 4 bedrooms, 3.5 baths, media room, and office gives something for everyone. Media Equipment stays with house! Kitchen has quartz ctops and stainless appliances, and overlooks large, covered back patio. New interior paint, lighting, cfans, and carpet. Close to schools, entertainment, and shopping. DISCLOSURES IN LISTING DOCS. SELLER HAS NO SURVEY.

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Tison Middle School Middle Regular 554 39 5
Weatherford High School High Regular 2,238 148 6
Whs Ninth Grade Center High Regular NA

Tison Middle School

  • Education Level: Middle
  • # of students: 554
  • # of teachers: 39
5
GreatSchools Rating

Weatherford High School

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

Whs Ninth Grade Center

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,268
Property Tax -$777
Property Insurance -$213
HOA -$33
Property Management Fees -$99
CASH FLOW
$250

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.

$365,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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$0.0$5.0k$10k$15k

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$36,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,827

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,640
1$2,6402$2,950
$2,950
RENT COMPS ANALYSIS
  • 1629 Silverstone Drive Weatherford, TX 1
    • 4 beds 4 baths ∙ 3,213 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,213 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.82
    •  
  • 3516 Wild Turkey Trail Weatherford, TX 2
    • 4 beds 4 baths ∙ 3,356 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,356 Sqft ∙ Built 2014
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.88
    •  
PROPERTY LISTING DETAILS
Mark Fuller
Ip Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533821
Last Updated: 03/17/2021
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