Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

228 Ridgeland Oak Drive Fort Worth, TX 76120

4 Beds 3 Baths 2,338 sqft Built 2021

$340,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $145.81
  • 3 Days on Market
  • MLS # : 14536609
  • Updated Date : 03/19/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,338 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Ozark plan is a stunning, two-story home in the community of Oak Ridge. This gorgeous home has a spacious layout with 4 bedrooms, 2.5 baths, a huge living room and more. The Ozark features a formal dining room as well as a breakfast area connected to the kitchen. In addition, this home comes with a host of included upgrades such as stainless steel kitchen appliances, granite countertops, gorgeous wood cabinets and an attached two-car garage complete with Wi-Fi-enabled opener installed. Schedule a tour of the Ozark plan today

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

Neighborhood: Country Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Country Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
S.h. Crowley Intermediate School Primary Regular 456 26 4
S.h. Crowley Intermediate School Middle Regular 456 26 4
Crowley High School High Regular 2,033 150 4

S.h. Crowley Intermediate School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

S.h. Crowley Intermediate School

  • Education Level: Middle
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating
 

$306,810$374,990$340,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,184
Property Tax -$781
Property Insurance -$162
HOA -$25
Property Management Fees -$99
CASH FLOW
-$372

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.

$340,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.55%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$92,339

INVESTMENT

$92,339

Down Payment
$85,225
Rehab Estimate
$2,000
Closing Costs
$5,114

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,184

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,225
Loan Amount $255,675
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$166

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,876

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,880
1$1,8802$1,8953$1,9354$1,9455$1,945
$1,945
RENT COMPS ANALYSIS
  • 228 Ridgeland Oak Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.80
    •  
  • 512 Horn Street Crowley, TX 2
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2019
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.79
    •  
  • 412 Canoe Way Crowley, TX 3
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2020
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.80
    •  
  • 505 Horn Street Crowley, TX 4
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2019
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.81
    •  
  • 433 Scuttle Drive Crowley, TX 5
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2019
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.81
    •  
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 #: 14536609
Last Updated: 03/19/2021
BESbswy