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2424 Gelbray Place Fort Worth, TX 76131

3 Beds 2 Baths 1,628 sqft Built 2013

$245,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $150.49
  • 3 Days on Market
  • MLS # : 14507784
  • Updated Date : 01/29/2021 at 09:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,628 sqft
  • Baths : 2 full
Listing Agent

Ritchey Realty

Listing Agent's Description

On the market for a 3 bedroom, 2 bathroom home within KELLER ISD? Look no further, we have the home for you! This beautiful Pulte home was recently redone with dark Vinyl HARDWOOD FLOORING that welcomes you upon entry and continues throughout the common areas of the home. With its VAULTED CEILINGS and NATURAL LIGHT the home creates a welcome environment that is perfect for entertaining. The kitchen includes granite countertops, an above the sink window, and an open concept. As for the OVERSIZED Master Bedroom there is tons of natural light, crown molding, and a Master Bathroom that leads into a large WALK-IN CLOSET. Last but not least you'll want to checkout the OVERSIZED BACKYARD. Its a MUST SEE HOME!

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Sunset Valley Elementary School Primary Unknown NA
Fossil Ridge High School High Regular 2,308 133 7
Sunset Valley Elementary School Primary Regular NA

Sunset Valley Elementary School

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

Fossil Ridge High School

  • Education Level: High
  • # of students: 2,308
  • # of teachers: 133
7
GreatSchools Rating

Sunset Valley Elementary School

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

$220,500$269,500$245,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$851
Property Tax -$562
Property Insurance -$121
HOA -$52
Property Management Fees -$99
CASH FLOW
-$45

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.

$245,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
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$100k$200k$300k$400k$500k$600k$700k

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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$6,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6403$1,6454$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 2424 Gelbray Place Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.01
    •  
  • 7729 Berrenda Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2013
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.98
    •  
  • 2405 Gelbray Place Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2013
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.01
    •  
  • 2400 Gelbray Place Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2013
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 2417 Simmental Road Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2016
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
PROPERTY LISTING DETAILS
Clia Zwilling
Ritchey Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507784
Last Updated: 01/29/2021
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