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217 Ridgeland Oak Drive Fort Worth, TX 76120

3 Beds 2 Baths 1,358 sqft Built 2020

$282,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $208.32
  • 3 Days on Market
  • MLS # : 14522926
  • Updated Date : 02/26/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The St. Clair is beautiful, new one-story home at Oak Ridge. This home features a spacious layout with 3 bedrooms and 2 full baths. The St. Clair comes complete with a host of impressive upgrades including stainless steel kitchen appliances, granite countertops, gorgeous wood cabinets and an attached two-car garage complete with Wi-Fi-enabled opener installed. On the outside, the St. Clair has incredible curb appeal with a stunning brick exterior, fully fenced back yard and front yard landscaping.

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: John T. White

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: John T. White

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8551734

* 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
Lowery Road Elementary School Primary Regular 692 39 5
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

Lowery Road Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 39
5
GreatSchools Rating

Handley Middle School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 42
4
GreatSchools Rating

Eastern Hills High School

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

$254,610$311,190$282,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$983
Property Tax -$649
Property Insurance -$106
HOA -$25
Property Management Fees -$99
CASH FLOW
-$471

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$282,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$9.0k-$8.0k-$7.0k-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,969

INVESTMENT

$76,969

Down Payment
$70,725
Rehab Estimate
$2,000
Closing Costs
$4,244

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$983

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,725
Loan Amount $212,175
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$5

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,389

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4503$1,4504$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 217 Ridgeland Oak Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.02
    •  
  • 1516 Aldra Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 1,394 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,394 Sqft ∙ Built 2009
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
  • 7940 Hidden Brook Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2003
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 1016 Fairweather Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2006
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.02
    •  
  • 7452 Maroon Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2006
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522926
Last Updated: 02/26/2021
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