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2612 Waters Edge Lane Fort Worth, TX 76116

3 Beds 3 Baths 2,948 sqft Built 2006

$489,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $165.88
  • 2 Days on Market
  • MLS # : 14464118
  • Updated Date : 11/07/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,948 sqft
  • Baths : 2 full , 1 half
Listing Agent

Apple Realty, Inc.

Listing Agent's Description

Pristine 3 bedroom 2.5 bath in a lovely, safe, and gated River Park Neighborhood. Private access to the Trinity Trails. Walk or bike to the shops & restaurants at Clearfork or Waterside. Home boasts soaring ceilings, rich hardwoods, vast windows offering soft natural light. Open concept floor plan flows effortlessly between kitchen and living, making this property ideal for entertaining. A must see eat-in kitchen with 42in white cabinets and gorgeous granite. Master with picturesque windows, sleek en-suite w huge walk-in closet. Upstairs offers a massive game room, two large bedrooms w walk-in closet. Sizeable flex room can function as office, playroom or studio. Spacious patio. HOA maintains front and backyard

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: The Retreat at River Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k480k

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

Neighborhood: The Retreat at River Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9192477

* 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
Ridglea Hills Elementary School Primary Regular 666 36 6
William Monnig Middle School Middle Regular 490 37 2
Arlington Heights High School High Regular 1,831 114 4

Ridglea Hills Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 36
6
GreatSchools Rating

William Monnig Middle School

  • Education Level: Middle
  • # of students: 490
  • # of teachers: 37
2
GreatSchools Rating

Arlington Heights High School

  • Education Level: High
  • # of students: 1,831
  • # of teachers: 114
4
GreatSchools Rating
 

$440,100$537,900$489,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$1,804
Property Tax -$1,121
Property Insurance -$198
HOA -$139
Property Management Fees -$99
CASH FLOW
-$481

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.

$489,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $3,095

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,8803$3,495
$3,495
RENT COMPS ANALYSIS
  • 2612 Waters Edge Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,948 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,948 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.98
    •  
  • 6965 Allen Place Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 1987
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.96
    •  
  • 3301 Riverwell Court Fort Worth, TX 3
    • 3 beds 4 baths ∙ 3,072 Sqft ∙ Built 1995 3 beds 4 baths ∙ 3,072 Sqft ∙ Built 1995
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.14
    •  
PROPERTY LISTING DETAILS
Jan-michael Olsberg
Apple Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464118
Last Updated: 11/07/2020
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