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2320 Bernese Lane Fort Worth, TX 76131

5 Beds 3 Baths 2,824 sqft Built 2018

$349,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $123.58
  • 3 Days on Market
  • MLS # : 14507667
  • Updated Date : 01/29/2021 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,824 sqft
  • Baths : 3 full
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

The double arched front porch is just the beginning to the charm in this 5 bedroom, 3 bathroom home in Keller ISD! Tall ceilings in the entryway lead to an open concept floor plan making a seamless transition from the kitchen; equipped with a stainless steel appliance package, living room with tray ceilings and a gorgeous wood burning stone fireplace, and direct access to the patio and fully fenced backyard. Highly desirable split bedroom configuration with the master suite and 1 other bedroom being on the main level. The neighborhood amenities include a clubhouse, pool, playground, park, and walking trails. Ease of lifestyle with close access to shopping and major highways. Schedule your tour today!

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76131

ZipNIR 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
Sunset Valley Elementary School Primary Unknown NA
Fossil Ridge High School High Regular 2,308 133 7
Sunset Valley Elementary School Primary Regular NA

Sunset Valley Elementary School

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

Fossil Ridge High School

  • Education Level: High
  • # of students: 2,308
  • # of teachers: 133
7
GreatSchools Rating

Sunset Valley Elementary School

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

$314,100$383,900$349,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,212
Property Tax -$800
Property Insurance -$190
HOA -$52
Property Management Fees -$99
CASH FLOW
-$274

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.

$349,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
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$200k$400k$600k$800k$1.0M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8253$2,0804$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2320 Bernese Lane Fort Worth, TX 3
    • 5 beds 3 baths ∙ 2,824 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,824 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.74
    •  
  • 7625 Sienna Ridge Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2005
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.63
    •  
  • 1412 Pheasant Run Trail Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2004
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.65
    •  
  • 7740 Anatolian Way Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2015
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 2305 Simmental Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2016
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
PROPERTY LISTING DETAILS
David Chicotsky
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507667
Last Updated: 01/29/2021
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