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2344 Offerande Drive Fort Worth, TX 76008

3 Beds 2 Baths 2,062 sqft Built 2020

INVESTimate

$402,432

List Price

$2,510

$2,260 - $2,760

Rent Est.

$420,461  ( +4.48%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $195.17
  • 9 Days on Market
  • MLS # : 14415925
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,062 sqft
  • Baths : 2 full
Listing Agent

David M. Weekley

Listing Agent's Description

NEW DAVID WEEKLEY HOME! Brilliant comforts and timeless elegance combine to make the dynamic roundup family home. Begin and end each day in the perfect paradise of your master bedroom, which features a spa-experience bathroom and a luxury walk in closet. Create your perfect home office or crafts workshop in the cheerful study. The spare bedrooms have been designed to maximize privacy, personal space, and unique appeal. Gather in the shade of your covered porch and patio for evening leisure and weekend fun. Your open concept floor plan fills with cool sunlight from energy-efficient windows and adapts to your personal design style.

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $104k380k

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9192738

* 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
Mcanally Intermediate School Primary Regular 785 43 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Mcanally Intermediate School

  • Education Level: Primary
  • # of students: 785
  • # of teachers: 43
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$362,189$442,675$402,432

PURCHASE PRICE

$2,259$2,761$2,510

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-$8.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,485
Property Tax -$901
Property Insurance -$146
HOA -$199
Property Management Fees -$99
CASH FLOW
-$321

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$402,432

PROJECTED PRICE

$2,510

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.48%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,644

INVESTMENT

$108,644

Down Payment
$100,608
Rehab Estimate
$2,000
Closing Costs
$6,036

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,485

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,608
Loan Amount $301,824
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,510

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,5104$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 2344 Offerande Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.22
    •  
  • 14917 Belclaire Avenue Aledo, TX 1
    • 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2017
    property image
    LEASED 04/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.21
    •  
  • 14808 Star Creek Drive Aledo, TX 2
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2018
    property image
    LEASED 11/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.28
    •  
  • 14925 Belclaire Avenue Aledo, TX 4
    • 3 beds 2 baths ∙ 2,317 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,317 Sqft ∙ Built 2018
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.12
    •  
  • 1825 Oak Trail Drive Aledo, TX 5
    • 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2018
    property image
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.26
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415925
Last Updated: 08/19/2020
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