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2513 Creekwood Lane Fort Worth, TX 76123

3 Beds 3 Baths 1,660 sqft Built 1985

$199,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $120.42
  • 6 Days on Market
  • MLS # : 14479435
  • Updated Date : 12/02/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,660 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Associates 1

Listing Agent's Description

SPECTACULAR MEADOWCREEK HOME WITH EXTENSIVE OWNER UPGRADES AND UPDATES * REMODELED KITCHEN INCLUDES GRANITE AND STAINLESS APPLIANCES * REMODELED BATHROOMS * OUTDOOR ENTERTAINMENT CENTER INCLUDES OVERSIZED PATIO AND COVERED GAZEBO * BONUS STORAGE BUILDING * UPDATED NEUTRAL CARPET * UPDATED FLOORING AND FIXTURES THROUGHOUT * NEIGHBORHOOD AMENITIES INCLUDE PARK, PLAYGROUND, AND TENNIS COURT * FLOORPLAN INCLUDES DOWNSTAIRS MASTER BEDROOM AND UPSTAIRS GAMEROOM LOFT

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: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661734

* 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
Mary Harris Intermediate School Primary Regular 668 36 3
Crowley Middle School Middle Regular 615 45 4
North Crowley High School High Regular 2,442 148 4

Mary Harris Intermediate School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 36
3
GreatSchools Rating

Crowley Middle School

  • Education Level: Middle
  • # of students: 615
  • # of teachers: 45
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$738
Property Tax -$458
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$82

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.

$199,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$900k

PROJECTED ANNUAL CASH FLOW

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

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$17,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,498

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4953$1,5004$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 2513 Creekwood Lane Fort Worth, TX 3
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 7909 Whitewater Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1988
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.90
    •  
  • 2548 Galemeadow Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1986
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 2716 Clovermeadow Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1989
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 2613 Harvest Moon Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 1987
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
PROPERTY LISTING DETAILS
Charles Morgan
Re/max Associates 1
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479435
Last Updated: 12/02/2020
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