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16409 Marinette Court Fort Worth, TX 76078

4 Beds 2 Baths 1,649 sqft Built 2021

$227,990

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $138.26
  • 3 Days on Market
  • MLS # : 14470768
  • Updated Date : 11/15/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,649 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

SELLING NOW!!-EXCITING NEW D.R. HORTON LIBERTY TRAILS EXPRESS HOME COMMUNITY IN NORTH FORT WORTH & NORTHWEST ISD!~Open concept 1 Story 4-2-2 Elgin Floorplan (Elevation C) Estimated completion Spring 2021*Spacious open Living,Dining,Kitchen with Seating Island,SS Appliances,Gas Range & Walk-in Pantry*Lrg private primary Bedroom with spacious 5-foot oversize walk-in shower & walk-in Closet*Ceramic Tiled Entry,Halls & Wet areas*Covered back Patio & 6-foot privacy fenced Backyard*Home is Connected Smart Home Package,Gas Tankless Water Heater,Landscape Pkg & Full Sprinkler System*Community will have Pool,Amenity Center & Pond~Convenient to I-35W,the Alliance area,Shopping,Restaurants & much more!

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

Zip Code: 76078

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $101k266k

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

Zip Code: 76078

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
 

$205,191$250,789$227,990

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$841
Property Tax -$326
Property Insurance -$123
HOA -$38
Property Management Fees -$99
CASH FLOW
$304

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$227,990

PROJECTED PRICE

$1,730

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,417

INVESTMENT

$62,417

Down Payment
$56,998
Rehab Estimate
$2,000
Closing Costs
$3,420

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,998
Loan Amount $170,993
See What Happens When You Reinvest Cash Flow

12.08

YEARS SAVED

$51,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,678

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4504$1,5505$1,730
$1,730
RENT COMPS ANALYSIS
  • 16409 Marinette Court Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.05
    •  
  • 12625 Carpenter Lane Rhome, TX 1
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 12133 Arbor Lake Road Rhome, TX 2
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 12808 Kingsgate Drive Rhome, TX 3
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2008
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.03
    •  
  • 12408 Sunland Avenue Rhome, TX 4
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
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 #: 14470768
Last Updated: 11/15/2020
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