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224 Black Alder Drive Fort Worth, TX 76131

4 Beds 4 Baths 2,768 sqft Built 2017

INVESTimate

$357,990

List Price

$2,070

$1,863 - $2,277

Rent Est.

$372,882  ( +4.16%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $129.33
  • 3 Days on Market
  • MLS # : 14419240
  • Updated Date : 08/24/2020 at 11:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,768 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

IMMACULATE 2 STORY 4-3.5-2 on LRG CORNER LOT with FRONT STUDY & HUGE UPSTAIRS GAMEROOM in CREEKWOOD ESTATES & EAGLE-MT-SAGINAW ISD!!~FABULOUS OPEN FLOOR PLAN LOADED with STUNNING FEATURES!*Hardwood floors,wrought iron stair balusters,wide serving Bar,Granite CT in Kitchen & Full Baths,French Doors & W-I closets in all Bedrooms*Lrg Chef's Kitchen with big Island,Subway tiled Backsplash,SS Appl with Gas CT,42 inch upper Cabinets & W-I Pantry*Open Dining & spacious Living with corner FP,Gas Logs & elec Starter*Lrg En-Suite down with Bay Window Seating area & tiled accented Shower & Garden Tub*HUGE upstairs Gameroom with lower level views,Guest Bath,lrg fenced bk Yrd with cvd & extended Patio + Kids side Play area!

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: Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k286k

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

Neighborhood: Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191858

* 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
Comanche Springs Elementary School Primary Regular 586 34 5
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

Comanche Springs Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 34
5
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$322,191$393,789$357,990

PURCHASE PRICE

$1,863$2,277$2,070

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-$10k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,321
Property Tax -$821
Property Insurance -$187
HOA -$42
Property Management Fees -$99
CASH FLOW
-$400

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.

$357,990

PROJECTED PRICE

$2,070

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.16%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,617

INVESTMENT

$100,617

Down Payment
$89,498
Rehab Estimate
$5,750
Closing Costs
$5,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,498
Loan Amount $268,493
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,207

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,0703$2,1004$2,3955$2,400
$2,400
RENT COMPS ANALYSIS
  • 224 Black Alder Drive Fort Worth, TX 2
    • 4 beds 4 baths ∙ 2,768 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,768 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.75
    •  
  • 1143 Frisco Drive Saginaw, TX 1
    • 5 beds 3 baths ∙ 2,589 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,589 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.77
    •  
  • 717 Catalpa Road Saginaw, TX 3
    • 5 beds 3 baths ∙ 2,727 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,727 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 8029 Black Sumac Drive Fort Worth, TX 4
    • 4 beds 4 baths ∙ 3,048 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,048 Sqft ∙ Built 2017
    LEASED 02/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.79
    •  
  • 205 Black Alder Drive Fort Worth, TX 5
    • 4 beds 4 baths ∙ 2,798 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,798 Sqft ∙ Built 2018
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
PROPERTY LISTING DETAILS
Stephen Kahn
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419240
Last Updated: 08/24/2020
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