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2329 Rushing Springs Drive Fort Worth, TX 76118

3 Beds 2 Baths 1,994 sqft Built 2003

$289,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $145.39
  • 3 Days on Market
  • MLS # : 14531688
  • Updated Date : 03/13/2021 at 11:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,994 sqft
  • Baths : 2 full
Listing Agent

The Michael Group Real Estate

Listing Agent's Description

Ready for your personal touches this corner lot home has extra large rooms and an up to date open floor plan. The secondary bedrooms are separate from the master with a second living room in between the 2 bedrooms. Great for kids to have their own space. The living room is so large, that a living dining combo is how it was originally designed, but you can use it as a great room. When you walk through the front door you have your own private office to the left. Perfect for working from home or use it as a flex space. Large storage shed in the back yard remains with the home. Offers deadline Monday, March 15h by noon. Roof replaced March 2020. Showings start Friday. Overlapping appointments allowed.

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: Lakes of River Trails South

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Lakes of River Trails South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $9001738

* 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
L D. Bell High School High Regular 2,145 125 6
L D. Bell High School High Unknown NA

L D. Bell High School

  • Education Level: High
  • # of students: 2,145
  • # of teachers: 125
6
GreatSchools Rating

L D. Bell High School

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

$260,910$318,890$289,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,007
Property Tax -$665
Property Insurance -$142
HOA -$25
Property Management Fees -$99
CASH FLOW
-$148

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.

$289,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,454

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,974

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,7903$1,8004$1,8455$2,000
$2,000
RENT COMPS ANALYSIS
  • 2329 Rushing Springs Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.90
    •  
  • 9102 Creede Trail Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1997
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.01
    •  
  • 9079 Saranac Trail Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2000
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 9055 River Trails Boulevard Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2002
    LEASED 03/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.02
    •  
  • 9112 Tyne Trail Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2001
    LEASED 02/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Holly Jacobs
The Michael Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531688
Last Updated: 03/13/2021
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