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3328 Tommy Watkins Drive Haltom City, TX 76117

3 Beds 2 Baths 1,422 sqft Built 2000

INVESTimate

$219,900

List Price

$1,340

$1,206 - $1,474

Rent Est.

$248,399  ( +12.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $154.64
  • 6 Days on Market
  • MLS # : 14416215
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,422 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Well kept home, 3 bedroom, 2 bathrooms, with covered patio, lot of up grades in this home. With larger secondary bedrooms with walk in closets, Master bedroom has 2 closets with separate shower. Kitchen has walk in pantry and lots cabinets. Landscaping and sprinkles system.

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

Zip Code: 76117

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $72k243k

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

Zip Code: 76117

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6601734

* 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
W. T. Francisco Elementary School Primary Regular 393 26 5
Haltom Middle School Middle Regular 890 61 5
Haltom High School High Regular 2,581 162 4

W. T. Francisco Elementary School

  • Education Level: Primary
  • # of students: 393
  • # of teachers: 26
5
GreatSchools Rating

Haltom Middle School

  • Education Level: Middle
  • # of students: 890
  • # of teachers: 61
5
GreatSchools Rating

Haltom High School

  • Education Level: High
  • # of students: 2,581
  • # of teachers: 162
4
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$811
Property Tax -$495
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
-$175

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.

$219,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.96%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,450

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3403$1,4504$1,550
$1,550
RENT COMPS ANALYSIS
  • 3328 Tommy Watkins Drive Haltom City, TX 2
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.94
    •  
  • 3313 Earle Drive Haltom City, TX 1
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1987
    LEASED 07/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.05
    •  
  • 3321 Tommy Hays Drive Haltom City, TX 3
    • 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1999
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.08
    •  
  • 2853 Mesquite Road Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,659 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,659 Sqft ∙ Built 2017
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
PROPERTY LISTING DETAILS
Don Mccall
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416215
Last Updated: 08/21/2020
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