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305 Lowery Oaks Trail Fort Worth, TX 76120

3 Beds 2 Baths 1,598 sqft Built 2020

$288,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $180.79
  • 3 Days on Market
  • MLS # : 14522941
  • Updated Date : 02/26/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,598 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The gorgeous Erie plan is located within the family-friendly community of Oak Ridge. This new one-story home features an open floor plan complete with 3 bedrooms and 2 full baths. Interior features of the Erie include energy-efficient appliances, granite countertops, designer wood cabinets and two-inch faux-wood blinds. The Erie showcases a grand master suite complete with a large walk-in closet, as well as a fully fenced back yard with a covered patio and front yard landscaping.

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: 76120

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76120

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.
 

$260,010$317,790$288,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,003
Property Tax -$662
Property Insurance -$120
HOA -$25
Property Management Fees -$99
CASH FLOW
-$349

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.

$288,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,559

INVESTMENT

$78,559

Down Payment
$72,225
Rehab Estimate
$2,000
Closing Costs
$4,334

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,003

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,225
Loan Amount $216,675
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$51

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5253$1,5604$1,5955$1,750
$1,750
RENT COMPS ANALYSIS
  • 305 Lowery Oaks Trail Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.98
    •  
  • 7940 Hidden Brook Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2003
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 1016 Fairweather Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2006
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.02
    •  
  • 916 Iona Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2014
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 133 Goldeneye Lane Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522941
Last Updated: 02/26/2021
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