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220 Lemley Drive Fort Worth, TX 76131

4 Beds 2 Baths 1,989 sqft Built 2019

$332,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $166.92
  • 2 Days on Market
  • MLS # : 14536316
  • Updated Date : 03/20/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,989 sqft
  • Baths : 2 full
Listing Agent

Era Cornerstone Realty

Listing Agent's Description

This beautiful, newer home is perfect! It has 4 bedroom 2 bath with plenty of space, and updates you will love. Quartz counter tops, 42 inch tall cabinets with added handles, no string blinds throughout the house (just pull down and push up), a gas fireplace that turns on with the flip of a switch, a walk in shower and garden tub, a convenient laundry room entry from the master closet, and a gas hook-up for patio grill are just a few. The neighborhood also boasts a club house, pool, and pond for all your weekend fun! The refrigerator, washer, dryer, and grill are also negotiable items.

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: 76131

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$298,800$365,200$332,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,153
Property Tax -$761
Property Insurance -$142
HOA -$53
Property Management Fees -$99
CASH FLOW
-$268

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.

$332,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$93,730

INVESTMENT

$93,730

Down Payment
$83,000
Rehab Estimate
$5,750
Closing Costs
$4,980

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,000
Loan Amount $249,000
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,203

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,904

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8504$1,8955$1,940
$1,940
RENT COMPS ANALYSIS
  • 220 Lemley Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,989 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,989 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.98
    •  
  • 9300 Flying Eagle Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2019
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
  • 9924 Amosite Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 2016
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 10033 Amosite Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 1,941 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,941 Sqft ∙ Built 2016
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 9920 Amosite Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
PROPERTY LISTING DETAILS
Brittany Louderback
Era Cornerstone Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536316
Last Updated: 03/20/2021
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