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2165 Benning Way Fort Worth, TX 76177

3 Beds 2 Baths 1,785 sqft Built 2007

INVESTimate

$238,999

List Price

$1,700

$1,530 - $1,870

Rent Est.

$258,740  ( +8.26%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $133.89
  • 33 Days on Market
  • MLS # : 14397835
  • Updated Date : 08/18/2020 at 12:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,785 sqft
  • Baths : 2 full
Listing Agent

Cleary Realty

Listing Agent's Description

Do you work from Home? Looking for a floor plan where bedrooms are separate for Privacy; then this is your home. This great starter home located in Northwest ISD in nice family friendly neighborhood with 3 bedrooms and 2 bathrooms that have recently been updated with new Granite, Laminate flooring throughout Living and kitchen area, new carpet in all bedrooms, completely repainted and much more. Large backyard with sprinkler system. Room to park two cars in garage. Located near the blossoming community of Alliance Town Center close to grocery stores, shopping areas and family friendly venues. Seller is motivated; bring us an offer. Back on market due to buyers financing.

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

Zip Code: 76177

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Zip Code: 76177

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
O.a. Peterson Elementary School Primary Regular 770 48 6
John M. Tidwell Middle School Middle Regular 1,048 65 8
Byron Nelson High School High Regular 2,552 147 8

O.a. Peterson Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 48
6
GreatSchools Rating

John M. Tidwell Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 65
8
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$215,099$262,899$238,999

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$882
Property Tax -$548
Property Insurance -$130
HOA -$21
Property Management Fees -$99
CASH FLOW
$20

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.

$238,999

PROJECTED PRICE

$1,700

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.26%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,249
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$13,944

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,691

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,5954$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 2165 Benning Way Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 2156 Benning Way Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2006
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 9608 Manassas Road Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2007
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.95
    •  
  • 2144 Benning Way Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 2425 Clairborne Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2009
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
PROPERTY LISTING DETAILS
Pamela Cleary
Cleary Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14397835
Last Updated: 08/18/2020
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