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317 Fanning Drive Hurst, TX 76053

4 Beds 3 Baths 3,171 sqft Built 2001

$395,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $124.57
  • 5 Days on Market
  • MLS # : 14476143
  • Updated Date : 12/02/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,171 sqft
  • Baths : 2 full , 1 half
Listing Agent

Perpetual Realty Group Llc

Listing Agent's Description

Pride of Ownership abounds for this one owner-custom built home. Inside you will find soaring ceilings with a well-appointed finish out. Enjoy the open concept for entertaining and a very nice home office space in the front of the house. There is a huge utility room and tons of storage space throughout to accommodate. Outside is a large yard with additional parking for RV or boat. No HOA allows for a shop or she shack option. Great location close to all major freeways and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Howard Hills Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k246k

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

Neighborhood: Howard Hills Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9161736

* 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
Hurst Hills Elementary School Primary Regular 521 34 8
Hurst Hills Elementary School Middle Regular 521 34 8
Hurst Junior High School High Regular 1,052 60 7

Hurst Hills Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 34
8
GreatSchools Rating

Hurst Hills Elementary School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 34
8
GreatSchools Rating

Hurst Junior High School

  • Education Level: High
  • # of students: 1,052
  • # of teachers: 60
7
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,457
Property Tax -$806
Property Insurance -$210
Property Management Fees -$99
CASH FLOW
-$82

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.

$395,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$15,092

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,854

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,900
$2,900
RENT COMPS ANALYSIS
  • 317 Fanning Drive Hurst, TX 1
    • 4 beds 3 baths ∙ 3,171 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,171 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.79
    •  
  • 8228 Snow Egret Way Fort Worth, TX 2
    • 4 beds 3 baths ∙ 3,239 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,239 Sqft ∙ Built 2016
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.90
    •  
PROPERTY LISTING DETAILS
Justin Brown
Perpetual Realty Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476143
Last Updated: 12/02/2020
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