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313 Lead Creek Drive Fort Worth, TX 76131

4 Beds 3 Baths 2,193 sqft Built 2018

$315,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $143.64
  • 3 Days on Market
  • MLS # : 14522776
  • Updated Date : 02/27/2021 at 22:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,193 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Gorgeous, MOVE-IN ready 2021 completion offering open floor plan with 4 beds, 3 full baths and additional game room or in-home office. Located in a highly desirable and growing community, closed to highway and shopping centers.

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: Trails of Fossil Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Trails of Fossil 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
Sonny And Allegra Nance Elementary School Primary Regular 456 30 5
Chisholm Trail Middle School Middle Regular 899 64 7
Byron Nelson High School High Regular 2,552 147 8

Sonny And Allegra Nance Elementary School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 30
5
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,094
Property Tax -$722
Property Insurance -$154
HOA -$21
Property Management Fees -$99
CASH FLOW
-$380

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.

$315,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$64

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,7503$1,7504$1,7755$1,795
$1,795
RENT COMPS ANALYSIS
  • 313 Lead Creek Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.78
    •  
  • 316 Iron Ore Trail Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2016
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 332 Iron Ore Trail Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,017 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,017 Sqft ∙ Built 2017
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 10745 Kittering Trail Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2007
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.88
    •  
  • 10321 Pyrite Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2012
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
PROPERTY LISTING DETAILS
Phuong Nguyen
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522776
Last Updated: 02/27/2021
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