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2329 Freeland Ridge Drive Fort Worth, TX 76177

4 Beds 3 Baths 2,761 sqft Built 2012

INVESTimate

$320,000

List Price

$2,370

$2,133 - $2,607

Rent Est.

$342,432  ( +7.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $115.90
  • 6 Days on Market
  • MLS # : 14416136
  • Updated Date : 08/24/2020 at 16:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,761 sqft
  • Baths : 3 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Stunning home now available in Tehama Ridge. Spacious kitchen with custom cabinets, gas cooktop, SS appliances, gas cooktop, and granite countertops. Kitchen also has large island and breakfast bar that opens to the family room. Large bonus room upstairs with full bath, neutral paint, and wood flooring throughout most of home. Secondary bedrooms split from master retreat, offering plenty of privacy. 4th bedroom is being used as a study. Relax on the extended back patio and enjoy the beautiful landscaping. Within walking distance to wonderful neighborhood trails, private fishing ponds and park. This home has it all!

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: Tehama Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Tehama Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Haslet Elementary School Primary Regular 406 28 9
Truett Wilson Middle School Middle Unknown 844 58 NA
Byron Nelson High School High Regular 2,552 147 8

Haslet Elementary School

  • Education Level: Primary
  • # of students: 406
  • # of teachers: 28
9
GreatSchools Rating

Truett Wilson Middle School

  • Education Level: Middle
  • # of students: 844
  • # of teachers: 58
NA
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,181
Property Tax -$734
Property Insurance -$187
HOA -$34
Property Management Fees -$99
CASH FLOW
$136

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.

$320,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.01%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,641

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,423

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,3704$2,6505$2,650
$2,650
RENT COMPS ANALYSIS
  • 2329 Freeland Ridge Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.86
    •  
  • 9840 Tule Lake Road Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 2016
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 9821 Gallatin Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2005
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
  • 9909 Tule Lake Road Fort Worth, TX 4
    • 4 beds 4 baths ∙ 2,903 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,903 Sqft ∙ Built 2017
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.91
    •  
  • 9812 White Bear Trail Fort Worth, TX 5
    • 5 beds 4 baths ∙ 3,100 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,100 Sqft ∙ Built 2016
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.85
    •  
PROPERTY LISTING DETAILS
Donna Swanzy
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416136
Last Updated: 08/24/2020
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