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2317 Folkstone Way Bedford, TX 76021

3 Beds 2 Baths 1,792 sqft Built 1995

INVESTimate

$294,900

List Price

$1,770

$1,593 - $1,947

Rent Est.

$319,583  ( +8.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $164.56
  • 7 Days on Market
  • MLS # : 14417451
  • Updated Date : 08/22/2020 at 08:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,792 sqft
  • Baths : 2 full
Listing Agent

Ultra Realty

Listing Agent's Description

Location couldn't be better than this coveted Bridgeton addition, very private and secluded neighborhood. Such a warm & friendly community, this charming home has three bedrooms (split arrangement) & two very spacious living areas, The light airy kitchen is so attractive with the artistic black & white tile, white cabinets, window seat & newish Bosch dishwasher. The kitchen is open to den with a cozy fireplace just off master bedroom. The closet in the master bedroom is so large it makes one want to go shopping. Master bath is also very spacious with separate tub and shower. Nice !!! Only one entrance in & out of neighborhood so no speeding traffic to worry about with the kids playing in the street.

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: Bridgeton

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $88k314k

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

Neighborhood: Bridgeton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9452229

* 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
Spring Garden Elementary School Primary Regular 596 38 7
Harwood Junior High School Middle Regular 998 57 8
Harwood Junior High School High Regular 998 57 8

Spring Garden Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 38
7
GreatSchools Rating

Harwood Junior High School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 57
8
GreatSchools Rating

Harwood Junior High School

  • Education Level: High
  • # of students: 998
  • # of teachers: 57
8
GreatSchools Rating
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,593$1,947$1,770

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-$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 $1,770
EXPENSES Loan Payment -$1,088
Property Tax -$597
Property Insurance -$131
HOA -$110
Property Management Fees -$99
CASH FLOW
-$255

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.

$294,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.37%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,254

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,788

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7703$1,8004$1,8805$1,950
$1,950
RENT COMPS ANALYSIS
  • 2317 Folkstone Way Bedford, TX 2
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.99
    •  
  • 2929 Beachtree Lane Bedford, TX 1
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1979
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 2701 Meadow Creek Drive Bedford, TX 3
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1979
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 2424 Meadow Creek Drive Bedford, TX 4
    • 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 1979
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.02
    •  
  • 2513 Glenoaks Court Bedford, TX 5
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1982
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
PROPERTY LISTING DETAILS
Shirley Worford
Ultra Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417451
Last Updated: 08/22/2020
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