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2625 Swift Creek Drive Fort Worth, TX 76123

5 Beds 4 Baths 2,313 sqft Built 2017

$310,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $134.03
  • 5 Days on Market
  • MLS # : 14539770
  • Updated Date : 03/25/2021 at 10:43
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,313 sqft
  • Baths : 3 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2017, this Fort Worth two-story cul-de-sac home offers granite countertops, and a two-car garage. Home utilities may be turned off due to weather conditions. This home has been virtually staged to illustrate its potential.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Creekside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $93k243k

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

Neighborhood: Creekside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8921734

* 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
J A Hargrave Elementary School Primary Regular 530 33 2
Summer Creek Middle School Middle Regular 779 52 4
North Crowley High School High Regular 2,442 148 4

J A Hargrave Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 33
2
GreatSchools Rating

Summer Creek Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 52
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,077
Property Tax -$711
Property Insurance -$161
HOA -$12
Property Management Fees -$99
CASH FLOW
-$309

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.

$310,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

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

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,833

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7503$1,9754$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 2625 Swift Creek Drive Fort Worth, TX 2
    • 5 beds 4 baths ∙ 2,313 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,313 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 8401 Asheville Lane Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2003
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 3288 Raleigh Drive Fort Worth, TX 3
    • 5 beds 3 baths ∙ 2,443 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,443 Sqft ∙ Built 1999
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.81
    •  
  • 3013 Gettysburg Lane Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2005
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 2645 Swift Creek Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 2018
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539770
Last Updated: 03/25/2021
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