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1712 Canyon Ridge Street Fort Worth, TX 76131

3 Beds 2 Baths 1,314 sqft Built 2000

$199,999

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $152.21
  • 5 Days on Market
  • MLS # : 14465199
  • Updated Date : 11/05/2020 at 19:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,314 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Looking for affordable housing in a great school district? Look no further than this great home. Fresh paint through out the home and new carpet in the bedrooms. The split bedroom arrangement offers privacy for the master suite. The open concept living and kitchen area make for a large space to gather as a family. The home has a new roof, replaced in 2020. Newer appliances in the kitchen, and a nice pantry. The backyard has a large concrete patio area and 2 peach trees. Come see this move in ready home.

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: Western Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Western Meadows

NeighborhoodNIR 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
Chisholm Ridge Elementary School Primary Regular 651 37 5
Highland Middle School Middle Regular 815 54 7
Saginaw High School High Regular 1,785 113 6

Chisholm Ridge Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 37
5
GreatSchools Rating

Highland Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 54
7
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$179,999$219,999$199,999

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$738
Property Tax -$458
Property Insurance -$103
Property Management Fees -$99
CASH FLOW
-$98

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$199,999

PROJECTED PRICE

$1,300

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $149,999
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$3,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,294

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4493$1,4954$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 1712 Canyon Ridge Street Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.99
    •  
  • 809 Waggoman Road Blue Mound, TX 2
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.95
    •  
  • 1764 Independence Road Blue Mound, TX 3
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 6304 Kristen Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2004
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 1741 Kachina Lodge Road Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2015
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lori Brookshire
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465199
Last Updated: 11/05/2020
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