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1844 Bridle Bit Road Bartonville, TX 75022

3 Beds 2 Baths 2,288 sqft Built 1982

$699,500

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $305.73
  • 6 Days on Market
  • MLS # : 14469280
  • Updated Date : 01/30/2021 at 06:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,288 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite

Listing Agent's Description

OPEN HOUSE SCHEDULED TODAY JANUARY 30, 2021. COVID 19 MASKS REQUIRED BY ALL ATTENDEES AT ALL TIMES. Due to new carpet and rainy weather please remove shoes at door or use shoe covers. Please refrain from touching and opening any cabinet doors or appliances in kitchen and bath. Parking available onsite in the gravel circle drive do not park in center of drive on grass or dirt. Parking also avail at the very end of Bridle Bit Rd just before the C-21 sign but no parking on private drive leading up to property gray gate. Preapproval financing available onsite via C-21 Cardinal Financial. No public access beyond any interior fences or gates dog run or utility room or any area marked No Public Access.

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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: 75022

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Zip Code: 75022

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Adkins Elementary School Primary Unknown NA
Harpool Middle School Middle Regular 914 61 9
John H. Guyer High School High Regular 2,395 162 8

Adkins Elementary School

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

Harpool Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 61
9
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$629,550$769,450$699,500

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,430
Property Tax -$1,200
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
-$1,408

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.

$699,500

PROJECTED PRICE

$2,480

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,118

INVESTMENT

$191,118

Down Payment
$174,875
Rehab Estimate
$5,750
Closing Costs
$10,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,430

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,875
Loan Amount $524,625
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$13

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,585

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,480
$2,480
RENT COMPS ANALYSIS
  • 1844 Bridle Bit Road Bartonville, TX 2
    • 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.08
    •  
  • 6111 Plantation Lane Double Oak, TX 1
    • 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 1984
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
PROPERTY LISTING DETAILS
Carol Canada
Century 21 Judge Fite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469280
Last Updated: 01/30/2021
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