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2300 Wakecrest Drive Fort Worth, TX 76108

3 Beds 2 Baths 1,760 sqft Built 2009

$230,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $130.68
  • 5 Days on Market
  • MLS # : 14494014
  • Updated Date : 01/06/2021 at 14:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Willow Park

Listing Agent's Description

Well maintained home with great curb appeal and nice landscape. Open floor plan with split bedroom arrangements and easy to entertain. In spacious living room with wood burning fire place and open dining area. Master suite has a garden tub, dual vanities, separate shower and walk in closet, utility room has room for washer, dryer and X fridge storage. Built in microwave electric cook top and covered patio. A must see home. Don't anticipate this home being on the market very long.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Chapel Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $101k243k

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

Neighborhood: Chapel Creek

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
Waverly Park Elementary School Primary Regular 810 47 6
Leonard Middle School Middle Regular 741 50 3
Western Hills High School High Regular 1,236 94 3

Waverly Park Elementary School

  • Education Level: Primary
  • # of students: 810
  • # of teachers: 47
6
GreatSchools Rating

Leonard Middle School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 50
3
GreatSchools Rating

Western Hills High School

  • Education Level: High
  • # of students: 1,236
  • # of teachers: 94
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$799
Property Tax -$573
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
$30

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.

$230,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$11,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,654

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6503$1,6954$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 2300 Wakecrest Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.93
    •  
  • 1153 Terrace View Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 2008
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 1133 Nighthawk Road Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2006
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 10409 Sixpence Lane Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2005
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 2212 Halladay Trail Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2010
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Joe Potts
Jp And Associates Willow Park
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494014
Last Updated: 01/06/2021
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