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226 Merlin Drive Weatherford, TX 76086

3 Beds 2 Baths 1,475 sqft Built 1998

$237,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $160.68
  • 4 Days on Market
  • MLS # : 14534483
  • Updated Date : 03/20/2021 at 16:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,475 sqft
  • Baths : 2 full
Listing Agent

Citiwide Alliance Realty

Listing Agent's Description

This lovely 3 bedroom 2 bath home is nestled on a quiet street in the coveted Briarwood neighborhood! Large entry welcomes you into an open concept design that feature 2 dining areas, stainless steel appliances, newly upgraded vinyl plank flooring and tons of architectural details! The backyard is the perfect place to entertain with its patio, large fenced in dog run, horseshoe pit and large shade trees! MULTIPLE OFFERS RECEIVED, PLEASE SUMBIT ALL OFFERS BY NOON ON SAT 3-20. Seller will select by 5:00pm Saturday.

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: 76086

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k258k

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7611734

* 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
Hall Middle School Middle Regular 592 41 5
Weatherford High School High Regular 2,238 148 6
Whs Ninth Grade Center High Regular NA

Hall Middle School

  • Education Level: Middle
  • # of students: 592
  • # of teachers: 41
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating

Whs Ninth Grade Center

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$213,300$260,700$237,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$823
Property Tax -$504
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
-$39

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.

$237,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,555

INVESTMENT

$68,555

Down Payment
$59,250
Rehab Estimate
$5,750
Closing Costs
$3,555

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$823

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,250
Loan Amount $177,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,619

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6004$1,6255$1,700
$1,700
RENT COMPS ANALYSIS
  • 226 Merlin Drive Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 108 Guinevere Court Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1986
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 1230 Newcastle Drive Weatherford, TX 3
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2013
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
  • 1041 Inverness Drive Weatherford, TX 4
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2012
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.16
    •  
  • 1306 Timber Creek Drive Weatherford, TX 5
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2000
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
PROPERTY LISTING DETAILS
Cassandra Knight
Citiwide Alliance Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534483
Last Updated: 03/20/2021
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