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257 Flower Ridge Drive Fort Worth, TX 76108

3 Beds 2 Baths 2,188 sqft Built 2016

$274,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $125.64
  • 11 Days on Market
  • MLS # : 14453566
  • Updated Date : 11/02/2020 at 17:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,188 sqft
  • Baths : 2 full
Listing Agent

Insight Realty Network

Listing Agent's Description

Gently used and nearly new. Kitchen with stainless appliances and California island with solid surface counter tops and open to the family room. Large master with large closets and spa-like master bath. Amazing yard. Great location. All appliances included.

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: Silver Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k284k

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

Neighborhood: Silver Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9191932

* 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
Blue Haze Elementary School Primary Regular 844 48 7
Brewer Middle School Middle Regular 986 55 6
Brewer Middle School High Regular 986 55 6

Blue Haze Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 48
7
GreatSchools Rating

Brewer Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating

Brewer Middle School

  • Education Level: High
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,014
Property Tax -$640
Property Insurance -$154
HOA -$37
Property Management Fees -$99
CASH FLOW
-$63

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.

$274,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,898

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8803$1,8954$1,9205$1,920
$1,920
RENT COMPS ANALYSIS
  • 257 Flower Ridge Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,188 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,188 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.86
    •  
  • 11321 Denet Creek Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,213 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,213 Sqft ∙ Built 2016
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 224 Flower Ridge Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,189 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,189 Sqft ∙ Built 2016
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
  • 204 Flower Ridge Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2020
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.93
    •  
  • 11329 Live Oak Creek Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 2018
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.86
    •  
PROPERTY LISTING DETAILS
Reuben Riojas
Insight Realty Network
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14453566
Last Updated: 11/02/2020
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