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2536 Weatherford Heights Drive Weatherford, TX 76087

3 Beds 2 Baths 1,850 sqft Built 2017

$258,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $139.46
  • 3 Days on Market
  • MLS # : 14463833
  • Updated Date : 11/02/2020 at 18:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,850 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

A home nicely nested conveniently to all the amenities of Weatherford and the DFW area. Upon entering this home you'll walk into foyer with the dinning room to the right. This floor plan is an open concept. The kitchen has a sitting space off to the side of the Breakfast area, with an area work for space. This gem is waiting to be yours.

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: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Raymond E. Curtis Elementary School Primary Regular 716 47 6
Raymond E. Curtis Elementary School Middle Regular 716 47 6
Weatherford High School High Regular 2,238 148 6

Raymond E. Curtis Elementary School

  • Education Level: Primary
  • # of students: 716
  • # of teachers: 47
6
GreatSchools Rating

Raymond E. Curtis Elementary School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 47
6
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$952
Property Tax -$549
Property Insurance -$134
HOA -$47
Property Management Fees -$99
CASH FLOW
-$111

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.

$258,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,686

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7003$1,8504$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 2536 Weatherford Heights Drive Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.90
    •  
  • 2210 Brandy Drive Weatherford, TX 2
    • 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 2010
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 2214 Brandy Drive Weatherford, TX 3
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2010
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 2552 Old Buck Drive Weatherford, TX 4
    • 4 beds 2 baths ∙ 1,911 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,911 Sqft ∙ Built 2018
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
  • 2537 Old Buck Drive Weatherford, TX 5
    • 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 2017
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Mary Diedrich
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463833
Last Updated: 11/02/2020
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