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3328 Raleigh Drive Fort Worth, TX 76123

5 Beds 3 Baths 3,123 sqft Built 1999

$259,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $83.22
  • 6 Days on Market
  • MLS # : 14486593
  • Updated Date : 12/19/2020 at 13:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,123 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Associates 1

Listing Agent's Description

GREAT HOME TO RAISE A FAMILY * MASTER BEDROOM DOWNSTAIRS, GAMEROOM AND SECONDARY BEDROOMS UPSTAIRS * PULTE CONSTRUCTION * KITCHEN OPEN TO DOWNSTAIRS LIVING ROOM * INVITING FIRE PLACE * LARGE BACKYARD WITH CREEK AND NO HOUSES LOCATED DIRECTLY BEHIND PROPERTY FOR GREAT PRIVACY * UPDATED CARPETING

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661734

* 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
Mary Harris Intermediate School Primary Regular 668 36 3
Crowley Middle School Middle Regular 615 45 4
North Crowley High School High Regular 2,442 148 4

Mary Harris Intermediate School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 36
3
GreatSchools Rating

Crowley Middle School

  • Education Level: Middle
  • # of students: 615
  • # of teachers: 45
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$959
Property Tax -$596
Property Insurance -$208
Property Management Fees -$99
CASH FLOW
$79

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.

$259,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.3%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,821

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,8254$1,9405$2,000
$2,000
RENT COMPS ANALYSIS
  • 3328 Raleigh Drive Fort Worth, TX 4
    • 5 beds 3 baths ∙ 3,123 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,123 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.62
    •  
  • 4105 Hunters Creek Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,810 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,810 Sqft ∙ Built 2002
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.59
    •  
  • 3875 Steeplechase Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,804 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,804 Sqft ∙ Built 2002
    property image
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.60
    •  
  • 8733 Stonebriar Lane Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 1999
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.65
    •  
  • 8033 Pretoria Place Fort Worth, TX 5
    • 4 beds 4 baths ∙ 3,207 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,207 Sqft ∙ Built 2004
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.62
    •  
PROPERTY LISTING DETAILS
Charles Morgan
Re/max Associates 1
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486593
Last Updated: 12/19/2020
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