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318 Cleveland Avenue Weatherford, TX 76086

3 Beds 2 Baths 1,482 sqft Built 9999

$229,900

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 9999
  • Price/Sqft : $155.13
  • 3 Days on Market
  • MLS # : 14503984
  • Updated Date : 01/22/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,482 sqft
  • Baths : 2 full
Listing Agent

Rutledge Realty Group, Llc

Listing Agent's Description

Adorable cozy cottage in the heart of Weatherford! Renovation in 2012 included new exterior siding, windows, electric, plumbing, gas, new walls, ceilings, fixtures, etc. HVAC was replaced in August 2016. You will feel like home from the cheerful front door to the large backyard - tons of natural light, inviting interior colors, spacious rooms, charming knotty pine study-den is tucked away on the second floor with great access to the attic for storage. Large fenced backyard with storage building. Minutes from all things Historic Weatherford has to offer! Walk to Cherry Park, Chandor Gardens, or many of the patio dining options on South Main St.

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: 76086

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k258k

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7611734

* 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
Raymond E. Curtis Elementary School Primary Regular 716 47 6
Raymond E. Curtis Elementary School Middle Regular 716 47 6
Weatherford High School High Regular 2,238 148 6

Raymond E. Curtis Elementary School

  • Education Level: Primary
  • # of students: 716
  • # of teachers: 47
6
GreatSchools Rating

Raymond E. Curtis Elementary School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 47
6
GreatSchools Rating

Weatherford High School

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

$206,910$252,890$229,900

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$799
Property Tax -$489
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
-$170

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.

$229,900

PROJECTED PRICE

$1,330

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,338

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3303$1,3954$1,3955$1,600
$1,600
RENT COMPS ANALYSIS
  • 318 Cleveland Avenue Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 9999 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 9999
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.90
    •  
  • 1105 N Main Street Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 9999 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 9999
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.85
    •  
  • 303 S Elm Street Weatherford, TX 3
    • 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 9999 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 9999
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 1502 Clear Lake Road Weatherford, TX 4
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 9999 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 9999
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 422 Eureka Street Weatherford, TX 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 9999 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 9999
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Amy Rutledge
Rutledge Realty Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503984
Last Updated: 01/22/2021
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