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2130 Clear Lake Road Weatherford, TX 76087

3 Beds 2 Baths 2,010 sqft Built 1991

INVESTimate

$319,000

List Price

$1,790

$1,611 - $1,969

Rent Est.

$338,108  ( +5.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $158.71
  • 6 Days on Market
  • MLS # : 14418163
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,010 sqft
  • Baths : 2 full
Listing Agent

Johnson Crest Real Estate Company

Listing Agent's Description

A touch of modern! Lake living at its best! Community pool! This gorgeous home features many high end finishes and has just been painted a fresh coat of soothing grey! Upon entering your lush and large courtyard, open the door to be astonished at the grand entry flowing seamlessly into your beautiful 2 story LR with a wall of windows and french doors, which continues through the dining room. Your oversized upstairs master suite boasts a custom bathroom and private balcony. Versatile layout for secondary bedrooms with one upstairs and one down! This 10 home gated community features a community pool and lake front property! Close to shopping, medical and interstate! THIS MUST SEE HOME is ready for its new owner!

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: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Stephen F. Austin Elementary School Primary Regular 579 35 6
Stephen F. Austin Elementary School Middle Regular 579 35 6
Weatherford High School High Regular 2,238 148 6

Stephen F. Austin Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Stephen F. Austin Elementary School

  • Education Level: Middle
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,177
Property Tax -$679
Property Insurance -$143
HOA -$250
Property Management Fees -$99
CASH FLOW
-$558

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.

$319,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.99%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
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.

  • $1,790

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,804

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,7604$1,7905$1,800
$1,800
RENT COMPS ANALYSIS
  • 2130 Clear Lake Road Weatherford, TX 4
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.89
    •  
  • 324 Cherry Street Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1984
    property image
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 321 Jade Lane Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2009
    property image
    LEASED 08/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 125 Willow Creek Drive Weatherford, TX 3
    • 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2001
    property image
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.91
    •  
  • 2202 Creek Side Drive Weatherford, TX 5
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2003
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
PROPERTY LISTING DETAILS
Ashli Johnson
Johnson Crest Real Estate Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418163
Last Updated: 08/22/2020
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