Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2724 Big Spring Drive Fort Worth, TX 76120

4 Beds 3 Baths 2,745 sqft Built 2005

INVESTimate

$260,000

List Price

$1,900

$1,710 - $2,090

Rent Est.

$274,508  ( +5.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $94.72
  • 7 Days on Market
  • MLS # : 14417648
  • Updated Date : 08/24/2020 at 14:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,745 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

This Gorgeous 4 Bedroom, 2.5 Bath 2-Story Home is a Must See! Open Concept Floor Plan with Quaint Living Room, 2 Dining, Media Room AND Game Room. The Kitchen Features Ample Cabinet-Counter Space, Built-In Microwave, All Black Electric Appliances and Eat in Kitchen. Owner's Suite with Walk-In Closet, Room for Sitting Area, and a 5 Piece Bathroom Including Dual Sinks, Large Garden Tub, and Separate Shower. Split Level Bedrooms with Master Down. Guest Bedrooms, Game Room and Media Room are all Upstairs. Additional Features Include New Roof 2020, Decorative Wood Burning Fireplace, Laminate Flooring, Vaulted Ceilings and Tons of Storage.

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 Bluffs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: The Bluffs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Bill J. Elliott Elementary School Primary Regular 650 38 5
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

Bill J. Elliott Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 38
5
GreatSchools Rating

Handley Middle School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 42
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$959
Property Tax -$596
Property Insurance -$186
HOA -$15
Property Management Fees -$99
CASH FLOW
$45

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$260,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 5.58%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$15,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,004

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,8953$1,9004$2,350
$2,350
RENT COMPS ANALYSIS
  • 2724 Big Spring Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 2725 Gardendale Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2005
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.75
    •  
  • 8048 Colbi Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 3,019 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,019 Sqft ∙ Built 2005
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.63
    •  
  • 1301 Pegasus Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,905 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,905 Sqft ∙ Built 2000
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.81
    •  
PROPERTY LISTING DETAILS
Mark Hewitt
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417648
Last Updated: 08/24/2020
BESbswy