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2569 Open Range Drive Fort Worth, TX 76177

4 Beds 4 Baths 2,944 sqft Built 2010

INVESTimate

$349,900

List Price

$2,440

$2,196 - $2,684

Rent Est.

$372,958  ( +6.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $118.85
  • 7 Days on Market
  • MLS # : 14417286
  • Updated Date : 08/22/2020 at 09:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,944 sqft
  • Baths : 3 full , 1 half
Listing Agent

Major League Realty, Inc.

Listing Agent's Description

Gorgeous inside and out! Corner lot, 4 bed 3.5 bath Graham Hart home in the desirable Fairway's at Champion's subdivision! Flowing open concept with office in front next to dining and kitchen with island and granite counter tops! large downstairs master with walk-in shower, dual sinks and large walk-in closet! 3 cozy bedrooms spread out for privacy upstairs with 2 full baths and a tucked away open concept large game room for entertaining,relaxing! House has been meticulously maintained by owners a must see! 2.5 miles from restaurants and Tanger outlets! photos coming soon, please schedule showings with showingtime or reach out to listing agent!

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: Oak Creek Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Oak Creek Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
W.r. Hatfield Elementary School Primary Regular 411 30 6
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

W.r. Hatfield Elementary School

  • Education Level: Primary
  • # of students: 411
  • # of teachers: 30
6
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,291
Property Tax -$729
Property Insurance -$197
HOA -$32
Property Management Fees -$99
CASH FLOW
$92

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.

$349,900

PROJECTED PRICE

$2,440

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.59%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$26,652

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,466

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3253$2,3754$2,4405$2,600
$2,600
RENT COMPS ANALYSIS
  • 2569 Open Range Drive Fort Worth, TX 4
    • 4 beds 4 baths ∙ 2,944 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,944 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.83
    •  
  • 2444 Open Range Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2018
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 15737 Barton Ridge Drive Fort Worth, TX 2
    • 4 beds 4 baths ∙ 2,818 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,818 Sqft ∙ Built 2017
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.83
    •  
  • 15640 Fire Creek Lane Fort Worth, TX 3
    • 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,043 Sqft ∙ Built 2012
    LEASED 03/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
  • 15704 Bent Rose Way Fort Worth, TX 5
    • 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 2008
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.88
    •  
PROPERTY LISTING DETAILS
Todd Mcmickle
Major League Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417286
Last Updated: 08/22/2020
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