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2405 Timber Cove Drive Weatherford, TX 76087

4 Beds 2 Baths 2,065 sqft Built 2005

$300,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $145.28
  • 3 Days on Market
  • MLS # : 14492899
  • Updated Date : 01/01/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,065 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This cozy home with a perfectly open concept is great for all families. You will see a huge updated kitchen, over-sized dining area, cozy fireplace, and beautiful windows that give you plenty of natural light while looking out to your large treed backyard with beautiful views of Weatherford. This home has an abundance of storage, crown molding, engineered hardwood floors, bay windows, built-in cabinets, built-in bookshelf, and 10 ft ceilings in the entry, living, and dining area.  The 4th bedroom is versatile and can be used as an extra bedroom or an office space. With the large living spaces, beautiful updates, and great backyard possibilities, you definitely do not want to miss out on this house!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Stephen F. Austin Elementary School Primary Regular 579 35 6
Stephen F. Austin Elementary School Middle Regular 579 35 6
Weatherford High School High Regular 2,238 148 6

Stephen F. Austin Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Stephen F. Austin Elementary School

  • Education Level: Middle
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,107
Property Tax -$638
Property Insurance -$147
Property Management Fees -$99
CASH FLOW
-$11

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.

$300,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,397

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,946

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9804$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2405 Timber Cove Drive Weatherford, TX 3
    • 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.96
    •  
  • 2202 Creek Side Drive Weatherford, TX 1
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2003
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 2305 Summer Brook Drive Weatherford, TX 2
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2004
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 629 Zachary Drive Weatherford, TX 4
    • 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2018
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 2309 Country Brook Drive Weatherford, TX 5
    • 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2004
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Nikole Weldon
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492899
Last Updated: 01/01/2021
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