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2717 Tar Heel Drive Fort Worth, TX 76123

4 Beds 3 Baths 2,145 sqft Built 2003

$235,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $109.56
  • 5 Days on Market
  • MLS # : 14490120
  • Updated Date : 12/23/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,145 sqft
  • Baths : 2 full , 1 half
Listing Agent

Chandler Crouch, Realtors

Listing Agent's Description

This beautiful home is ready for you! The master suite is the perfect retreat with plenty of natural light, dual sinks, garden tub, separate shower, and large walk in closet. The floorplan is flexible and includes all bedrooms and laundry room upstairs for convenience and ease. The backyard is huge and easy to care for. The kitchen is ideal with a view outside, new appliances, pantry and tons of counterspace. With easy access to I35 or Chisholm Trail Pkwy, tons of shopping nearby, and a park and YMCA just a few blocks away, you will love this convenient location.

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: Meadow Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Meadow Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8991734

* 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
Jackie Carden Elementary School Primary Regular 485 36 5
Crowley Middle School Middle Regular 615 45 4
North Crowley High School High Regular 2,442 148 4

Jackie Carden Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 36
5
GreatSchools Rating

Crowley Middle School

  • Education Level: Middle
  • # of students: 615
  • # of teachers: 45
4
GreatSchools Rating

North Crowley High School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$867
Property Tax -$539
Property Insurance -$151
HOA -$23
Property Management Fees -$99
CASH FLOW
$1

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.

$235,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,662

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,553
1$1,5532$1,6003$1,6494$1,6805$1,749
$1,749
RENT COMPS ANALYSIS
  • 2717 Tar Heel Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.78
    •  
  • 2528 Tar Heel Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2002
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,553
    • $0.74
    •  
  • 8401 Asheville Lane Fort Worth, TX 2
    • 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
    •  
  • 2429 Galemeadow Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 2007
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.78
    •  
  • 8832 Elk Creek Lane Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2009
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.83
    •  
PROPERTY LISTING DETAILS
Chandler Crouch
Chandler Crouch, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490120
Last Updated: 12/23/2020
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