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3308 Lake Hill Lane Fort Worth, TX 76053

4 Beds 2 Baths 1,925 sqft Built 2002

INVESTimate

$295,000

List Price

$1,910

$1,719 - $2,101

Rent Est.

$325,533  ( +10.35%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $153.25
  • 5 Days on Market
  • MLS # : 14418964
  • Updated Date : 08/23/2020 at 10:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,925 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Want a updated home with a backyard lake view? This is it! With an updated kitchen, bathrooms and freshly painted with new fixtures and flooring throughout! This wide open floor plan makes this home a must have. Enjoy relaxing in your backyard or peering out your window gazing into that lake! Come see this one now, it won't disappoint!

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: Lakeview

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k336k

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

Neighborhood: Lakeview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9852171

* 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
Bellaire Elementary School Primary Regular 738 43 5
Hurst Junior High School Middle Regular 1,052 60 7
Hurst Junior High School High Regular 1,052 60 7

Bellaire Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 43
5
GreatSchools Rating

Hurst Junior High School

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

Hurst Junior High School

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

$265,500$324,500$295,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,088
Property Tax -$676
Property Insurance -$138
HOA -$26
Property Management Fees -$99
CASH FLOW
-$118

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.

$295,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.35%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,8504$1,8955$1,910
$1,910
RENT COMPS ANALYSIS
  • 3308 Lake Hill Lane Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.99
    •  
  • 10316 Lake Terrace Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 2002
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 736 Bluebonnet Drive Hurst, TX 2
    • 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1992
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 10312 Lake Park Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2002
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 10004 Daly Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2007
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
PROPERTY LISTING DETAILS
Trenton Johnson
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418964
Last Updated: 08/23/2020
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