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245 Black Alder Drive Fort Worth, TX 76131

3 Beds 2 Baths 1,936 sqft Built 2018

$315,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $162.71
  • 4 Days on Market
  • MLS # : 14540203
  • Updated Date : 03/26/2021 at 12:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,936 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

OPEN HOUSE SUNDAY 2-4PM! SEARCH YOUTUBE FOR HD VIDEO OF THIS PROPERTY! Move-in ready gem nestled in Creekwood Addition. Bright & open floorplan offers easy entertaining & upgrades galore! Gourmet kitchen with GRANITE COUNTERTOPS, GAS RANGE w- 2 OVENS & WALK-IN PANTRY! Living area with soaring ceilings & stacked stone fireplace. Owner's retreat boasts sitting area & spa-inspired en suite with walk in closet! Separate utility room. RADIANT BARRIER! Home backs to greenbelt space & offers a covered patio & space for playing fetch with your resident pooch! Neighborhood amenities include community pool, parks, playground, trails, & sports court. Enjoy easy accessibility to shopping & dining, as well as freeways!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k286k

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

Neighborhood: Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191858

* 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
Comanche Springs Elementary School Primary Regular 586 34 5
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

Comanche Springs Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 34
5
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,094
Property Tax -$722
Property Insurance -$139
HOA -$42
Property Management Fees -$99
CASH FLOW
-$406

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.

$315,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.2%
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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$34

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6903$1,7254$1,7255$1,850
$1,850
RENT COMPS ANALYSIS
  • 245 Black Alder Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.87
    •  
  • 321 Mystic River Trail Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 2006
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 7908 Split Rock Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2015
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.99
    •  
  • 317 Mariscal Place Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2015
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.99
    •  
  • 8001 Ash Meadow Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2012
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kevin Rhodes
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540203
Last Updated: 03/26/2021
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