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2900 Gipson Street Fort Worth, TX 76111

3 Beds 2 Baths 1,211 sqft Built 2020

$204,800

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $169.12
  • 3 Days on Market
  • MLS # : 14470512
  • Updated Date : 11/13/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,211 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Newly built 3 bedrooms 2 baths. Elevated ceilings in the Living and Master. Open concept with tile in the living and kitchen areas. Granite countertops and custom cabinets with stainless steel appliances. Short walk to Elementary school and 5 minute drive to downtown Ft. Worth.

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: United Riverside

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $63k243k

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

Neighborhood: United Riverside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6061734

* 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
Versia L. Williams Elementary School Primary Regular 500 27 4
Riverside Middle School Middle Regular 1,028 63 3
Amon Carter-riverside High School High Regular 1,272 79 3

Versia L. Williams Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 27
4
GreatSchools Rating

Riverside Middle School

  • Education Level: Middle
  • # of students: 1,028
  • # of teachers: 63
3
GreatSchools Rating

Amon Carter-riverside High School

  • Education Level: High
  • # of students: 1,272
  • # of teachers: 79
3
GreatSchools Rating
 

$184,320$225,280$204,800

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$756
Property Tax -$469
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
-$171

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.

$204,800

PROJECTED PRICE

$1,250

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.5%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,272

INVESTMENT

$56,272

Down Payment
$51,200
Rehab Estimate
$2,000
Closing Costs
$3,072

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,200
Loan Amount $153,600
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,259

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3954$1,400
$1,400
RENT COMPS ANALYSIS
  • 2900 Gipson Street Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
  • 1317 E Annie Street Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 2001
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.99
    •  
  • 1029 E Broadway Avenue Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2019
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.07
    •  
  • 1116 E Hattie Street Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 2018
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.06
    •  
PROPERTY LISTING DETAILS
William Huffman
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470512
Last Updated: 11/13/2020
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