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2517 Harvest Moon Drive Fort Worth, TX 76123

4 Beds 3 Baths 2,524 sqft Built 1988

$289,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $114.50
  • 7 Days on Market
  • MLS # : 14488330
  • Updated Date : 12/21/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,524 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Castle Realty

Listing Agent's Description

Conveniently located. Thirty minute drive to downtown Fort Worth and 45 minute drive to Downtown Dallas We are selling our home in South Ft Worth. It has been pampered since 1989. We are the original owners. 2524 sq feet. 4 BR. (1 BR was converted to a Media room-sound room or work out room). 2.5 Bath. Family room. Formal Dining room. Open living room to 20 foot ceiling with cat walk. Built in pool ( resurfaced 1 month ago) with waterfalls and slide. Wonderful neighbors. New heat pump. New roof. New solar screens. New Paint. New Carpet.

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: 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
 

$260,100$317,900$289,000

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 -$1,066
Property Tax -$663
Property Insurance -$173
Property Management Fees -$99
CASH FLOW
-$171

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.

$289,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.63%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,399

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
  • $0.73

    LIST RENT PER SQFT
  • $1,824

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8303$1,8504$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 2517 Harvest Moon Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.73
    •  
  • 3220 Marie Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1992
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.70
    •  
  • 3412 Michelle Ridge Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2006
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 8316 Orleans Lane Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2001
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 7945 Val Verde Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,560 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,560 Sqft ∙ Built 1989
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
PROPERTY LISTING DETAILS
Gary Bisha
My Castle Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488330
Last Updated: 12/21/2020
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