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1908 Watson Street Fort Worth, TX 76103

3 Beds 2 Baths 1,885 sqft Built 1985

$249,500

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $132.36
  • 4 Days on Market
  • MLS # : 14531507
  • Updated Date : 03/11/2021 at 21:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,885 sqft
  • Baths : 2 full
Listing Agent

Tng Realty

Listing Agent's Description

Beautifully remodeled home. Come see this 3 bedroom, 2 bath, cozy home with new roof, AC, and stainless steel appliances. Also new are: vanities, light fixtures, hardwares, duct work, paint, and flooring. The house sits on a large oversized lot more than 0.5 acre. Custom deck in back, lots of extra parking space, lots of trees, peaceful and quiet neighborhood. This home is down the street from Meadowbrook Golf Course.

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: Tierney Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $87k243k

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

Neighborhood: Tierney Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421734

* 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
Eastern Hills Elementary School Primary Regular 644 38 4
Meadowbrook Middle School Middle Regular 584 45 4
Eastern Hills High School High Regular 1,215 96 2

Eastern Hills Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 38
4
GreatSchools Rating

Meadowbrook Middle School

  • Education Level: Middle
  • # of students: 584
  • # of teachers: 45
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$224,550$274,450$249,500

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$867
Property Tax -$572
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$174

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.

$249,500

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$71,868

INVESTMENT

$71,868

Down Payment
$62,375
Rehab Estimate
$5,750
Closing Costs
$3,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,375
Loan Amount $187,125
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,678

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5004$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 1908 Watson Street Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 5008 Emerald Lake Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1967
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 4913 Saint Lawrence Road Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1965
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 5021 Emerald Lake Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1968
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 2313 Jenson Circle Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 2002
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
PROPERTY LISTING DETAILS
Danh Lam
Tng Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531507
Last Updated: 03/11/2021
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