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2234 Summer Brook Drive Weatherford, TX 76087

3 Beds 2 Baths 2,017 sqft Built 2003

$272,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $134.85
  • 2 Days on Market
  • MLS # : 14505230
  • Updated Date : 01/23/2021 at 08:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,017 sqft
  • Baths : 2 full
Listing Agent

Ready Real Estate Llc

Listing Agent's Description

Nice Home on a large corner lot in great neighborhood. The home features wood look tile and carpet, freshly painted interior, patio and garage, roof has Class 4 shingles. Granite Countertop and Stainless Appliances. New Air Conditioner, 2 year old water heater. 2 Flex space Office-Den and a another flex space which can be used as a formal dining room. This is a must see! Priced to sell, won't last long.

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: 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
 

$244,800$299,200$272,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$945
Property Tax -$579
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
$124

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.

$272,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,830

INVESTMENT

$77,830

Down Payment
$68,000
Rehab Estimate
$5,750
Closing Costs
$4,080

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,000
Loan Amount $204,000
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$21,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,931

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8903$1,9004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2234 Summer Brook Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.94
    •  
  • 1937 Windowmere Trail Weatherford, TX 1
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 2002
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 2305 Summer Brook Drive Weatherford, TX 3
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2004
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 629 Zachary Drive Weatherford, TX 4
    • 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2018
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 2309 Country Brook Drive Weatherford, TX 5
    • 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Anita Arledge
Ready Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505230
Last Updated: 01/23/2021
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