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2408 Flowing Springs Drive Fort Worth, TX 76177

3 Beds 2 Baths 1,779 sqft Built 2019

$300,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $168.63
  • 2 Days on Market
  • MLS # : 14536885
  • Updated Date : 03/20/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,779 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Adorable two year old Historymaker home in an active golf course community with 3 bedrooms and 2 baths. Open living and kitchen areas are nicely decorated with grey cabinets and white quartz countertops. Bedrooms are split. Short walking distance to the community pool and playground. Convenient to Buc-cees, Tanger Outlets, Big Shots Golf, and numerous restaurants. Pictures and more info to come next week! Available for showing starting at 9am Sunday March 21, 2021

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: Oak Creek Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Oak Creek Trails

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
W.r. Hatfield Elementary School Primary Regular 411 30 6
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

W.r. Hatfield Elementary School

  • Education Level: Primary
  • # of students: 411
  • # of teachers: 30
6
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,042
Property Tax -$625
Property Insurance -$130
HOA -$33
Property Management Fees -$99
CASH FLOW
-$99

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

$1,830

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.6%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,846

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8903$1,8994$1,9455$1,990
$1,990
RENT COMPS ANALYSIS
  • 2408 Flowing Springs Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.03
    •  
  • 2412 Indian Head Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 2019
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.06
    •  
  • 15720 Prairie Grass Lane Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 2018
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $1.06
    •  
  • 15729 Bent Rose Way Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2013
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.02
    •  
  • 15717 Bent Rose Way Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2010
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.01
    •  
PROPERTY LISTING DETAILS
Debbie Smith
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536885
Last Updated: 03/20/2021
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