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2749 Castro Lane Fort Worth, TX 76108

3 Beds 2 Baths 1,484 sqft Built 2003

INVESTimate

$208,500

List Price

$1,520

$1,368 - $1,672

Rent Est.

$225,055  ( +7.94%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $140.50
  • 5 Days on Market
  • MLS # : 14418992
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,484 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Fort Worth

Listing Agent's Description

Conveniently located starter home for a young couple or a down sizing family. Kitchen is separate and large enough for a rolling island, and room for a small breakfast table. Separate dining and living area with corner fireplace. Flooring has recently been replaced throughout . Large master bedroom with large bath and closet.

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: Chapel Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $101k243k

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

Neighborhood: Chapel Creek

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
Waverly Park Elementary School Primary Regular 810 47 6
Leonard Middle School Middle Regular 741 50 3
Western Hills High School High Regular 1,236 94 3

Waverly Park Elementary School

  • Education Level: Primary
  • # of students: 810
  • # of teachers: 47
6
GreatSchools Rating

Leonard Middle School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 50
3
GreatSchools Rating

Western Hills High School

  • Education Level: High
  • # of students: 1,236
  • # of teachers: 94
3
GreatSchools Rating
 

$187,650$229,350$208,500

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$769
Property Tax -$478
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
$61

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.

$208,500

PROJECTED PRICE

$1,520

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.94%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,003

INVESTMENT

$61,003

Down Payment
$52,125
Rehab Estimate
$5,750
Closing Costs
$3,128

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$769

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,125
Loan Amount $156,375
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$16,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,532

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4503$1,5004$1,5005$1,520
$1,520
RENT COMPS ANALYSIS
  • 2749 Castro Lane Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.02
    •  
  • 10261 Dallam Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 2003
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.05
    •  
  • 2741 Briscoe Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 2003
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 10221 Dallam Lane Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 2002
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 10233 Dawson Trail Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 2001
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
PROPERTY LISTING DETAILS
Paula Pittsinger
Jp And Associates Fort Worth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418992
Last Updated: 08/22/2020
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