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213 N Flaxseed Lane Fort Worth, TX 76108

3 Beds 2 Baths 1,458 sqft Built 1987

$208,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $143.28
  • 2 Days on Market
  • MLS # : 14518551
  • Updated Date : 02/13/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,458 sqft
  • Baths : 2 full
Listing Agent

Texas Dfw Homes

Listing Agent's Description

You must bring your clients to see this lovely and renovated home. This open concept layout includes split bedrooms, wonderful use of space in the kitchen with new granite countertops and a great fireplace in the family room. No carpet, ceramic title throughout the house .The backyard includes a fenced backyard along with a 10*10 storage building. Master bath comes with double sink and double closest. Located in a quiet neighborhood only a few minutes from schools, shopping, restaurants and 820.

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: Legacy West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $83k243k

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

Neighborhood: Legacy West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8921734

* 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
North Elementary School Primary Regular 840 44 6
Brewer Middle School Middle Regular 986 55 6
Brewer High School High Regular 1,730 104 4

North Elementary School

  • Education Level: Primary
  • # of students: 840
  • # of teachers: 44
6
GreatSchools Rating

Brewer Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating

Brewer High School

  • Education Level: High
  • # of students: 1,730
  • # of teachers: 104
4
GreatSchools Rating
 

$188,010$229,790$208,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$726
Property Tax -$479
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
$25

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.

$208,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.7%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$61,109

INVESTMENT

$61,109

Down Payment
$52,225
Rehab Estimate
$5,750
Closing Costs
$3,134

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$726

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,225
Loan Amount $156,675
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$10,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,487

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3953$1,4404$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 213 N Flaxseed Lane Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.99
    •  
  • 9983 Lone Eagle Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1986
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 10016 Bugle Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1986
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 109 Prospector Court Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.09
    •  
  • 10125 Bugle Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1981
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
PROPERTY LISTING DETAILS
Aura Garrido
Texas Dfw Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518551
Last Updated: 02/13/2021
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