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309 Clear Lake Lane Weatherford, TX 76087

3 Beds 3 Baths 2,394 sqft Built 1985

$399,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $166.67
  • 2 Days on Market
  • MLS # : 14527971
  • Updated Date : 03/06/2021 at 08:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,394 sqft
  • Baths : 2 full , 1 half
Listing Agent

Clickpickandmove, Llc

Listing Agent's Description

Step back from the hustle and bustle of the city and into your own little piece of quiet country living. Relax on the front patio or wrap around deck that over looks your 1.9 acres surrounded by mature trees. This home has fresh updates to the flooring, granite countertops, recessed lighting, newly painted inside and out, and much more. Half bath on lower level along with the Master bedroom featuring full bath with separate tub and updated shower, upstairs will take you to the 2 split secondary bedrooms and full bath.

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Hall Middle School Middle Regular 592 41 5
Weatherford High School High Regular 2,238 148 6
Whs Ninth Grade Center High Regular NA

Hall Middle School

  • Education Level: Middle
  • # of students: 592
  • # of teachers: 41
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating

Whs Ninth Grade Center

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

$359,100$438,900$399,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,386
Property Tax -$849
Property Insurance -$166
Property Management Fees -$99
CASH FLOW
-$280

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.

$399,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,657

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,095

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$2,220
$2,220
RENT COMPS ANALYSIS
  • 309 Clear Lake Lane Weatherford, TX 3
    • 3 beds 3 baths ∙ 2,394 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,394 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.93
    •  
  • 2202 Creek Side Drive Weatherford, TX 1
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2003
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 2305 Summer Brook Drive Weatherford, TX 2
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2004
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
PROPERTY LISTING DETAILS
Marika Landreville
Clickpickandmove, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527971
Last Updated: 03/06/2021
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