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2716 Andesite Lane Fort Worth, TX 76108

3 Beds 3 Baths 2,442 sqft Built 2021

$311,221

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $127.45
  • 7 Days on Market
  • MLS # : 14504567
  • Updated Date : 01/26/2021 at 08:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,442 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready May 2021! Unwind in the McKinnon’s main level primary suite, complete with a luxurious bath and spacious walk-in closet. Gray cabinets, salt 'n pepper granite, white geo backsplash, light gray tile and carpet, and oyster oak vinyl in our Posh package. Turn the kids loose at neighboring Chuck Silcox playground or enjoy a round at Leonard Links. Located minutes from the Fort Worth stockyards, Chapin Village is just a short drive to employment centers, dining, and entertainment. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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: 76108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76108

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$280,099$342,343$311,221

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,081
Property Tax -$697
Property Insurance -$168
HOA -$28
Property Management Fees -$99
CASH FLOW
-$163

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$311,221

PROJECTED PRICE

$1,910

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,474

INVESTMENT

$84,474

Down Payment
$77,805
Rehab Estimate
$2,000
Closing Costs
$4,668

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,805
Loan Amount $233,416
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,148

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,8754$1,8955$1,910
$1,910
RENT COMPS ANALYSIS
  • 2716 Andesite Lane Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,442 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,442 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.78
    •  
  • 10624 Vista Heights Boulevard Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 2005
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 3056 Wakecrest Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2015
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.80
    •  
  • 10633 Ambling Trail Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,352 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,352 Sqft ∙ Built 2005
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.80
    •  
  • 10312 Bradshaw Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2010
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.82
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504567
Last Updated: 01/26/2021
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