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305 Rock Prairie Lane Fort Worth, TX 76140

4 Beds 3 Baths 2,500 sqft Built 2003

$239,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $95.96
  • 3 Days on Market
  • MLS # : 14508002
  • Updated Date : 02/06/2021 at 23:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,500 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Looking for space? Check out this spectacular well kept home in the Parks of Deer! This home has 4 spacious bedrooms and 2.1 baths with newer carpet and paint. There is a large open space upon entry that can be a flex room, office or dining room. The open kitchen is gorgeous and has a eat-in nook with box window seating and raised bar top. Your guests can relax in the family room while being apart of the kitchen party. There is also a enormous 15x25 game room upstairs with wide range views below. You will definably love the secluded master downstairs with all the perks and large backyard space. This home is definitely a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: The Parks of Deer Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: The Parks of Deer 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
Sidney H. Poynter Elementary School Primary Regular 532 32 3
Crowley High School High Regular 2,033 150 4
Crowley High School High Unknown NA

Sidney H. Poynter Elementary School

  • Education Level: Primary
  • # of students: 532
  • # of teachers: 32
3
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$833
Property Tax -$550
Property Insurance -$172
HOA -$37
Property Management Fees -$99
CASH FLOW
$0

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.

$239,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.3%
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$900k

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$9,252

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,875

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6903$1,7504$1,9005$2,100
$2,100
RENT COMPS ANALYSIS
  • 305 Rock Prairie Lane Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.68
    •  
  • 11233 Pleasant Wood Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2003
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 512 Prairie Gulch Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2002
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 316 Sun Meadow Lane Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2002
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 11932 Briaredge Street Fort Worth, TX 5
    • 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2016
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
PROPERTY LISTING DETAILS
Clifton Johnson
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508002
Last Updated: 02/06/2021
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