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2413 Red Draw Road Fort Worth, TX 76177

4 Beds 3 Baths 2,804 sqft Built 2018

$380,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $135.52
  • 3 Days on Market
  • MLS # : 14463802
  • Updated Date : 11/06/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,804 sqft
  • Baths : 3 full
Listing Agent

Nicole Andrews Group

Listing Agent's Description

You found it! The perfect home from the moment you drive up. Wonderful open floor plan that lets you be with your family and friends as you prepare meals from the gorgeous granite island in the center of the kitchen, Under counter lighting, gas stove top, separate wine bar this kitchen is definitely the heart of the home. Beautiful wood floors through out the 1st floor. Generous master ensuite, Lots of storage in the utility room and under the stairs. The upstairs boast a large family game room and storage closet. The bedroom is the size of a master suite with its own private bath. Over $40,000 worth of upgrades in this one and half year old home in the prestigious Northwest ISD.

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: 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
 

$342,000$418,000$380,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,402
Property Tax -$792
Property Insurance -$189
HOA -$38
Property Management Fees -$99
CASH FLOW
-$260

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.

$380,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.59%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,264

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1003$2,2504$2,2605$2,325
$2,325
RENT COMPS ANALYSIS
  • 2413 Red Draw Road Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.81
    •  
  • 16100 Blanco Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,609 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,609 Sqft ∙ Built 2002
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 15945 White Mill Road Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2019
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 2444 Open Range Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2018
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 15737 Barton Ridge Drive Fort Worth, TX 5
    • 4 beds 4 baths ∙ 2,818 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,818 Sqft ∙ Built 2017
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.83
    •  
PROPERTY LISTING DETAILS
Deborah Kilway
Nicole Andrews Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463802
Last Updated: 11/06/2020
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