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3352 Raleigh Drive Fort Worth, TX 76123

4 Beds 3 Baths 2,443 sqft Built 1999

$241,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $99.02
  • 4 Days on Market
  • MLS # : 14469988
  • Updated Date : 11/14/2020 at 12:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,443 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ambrose Real Estate

Listing Agent's Description

Attractive red brick, 4 bed, 2.5 bath home in the Meadow Creek Subdivision. This home is great for a growing family and entertaining guest. Home has beautiful Galley style kitchen, with breakfast bar, breakfast nook and formal dining area. Spacious living room with gas starting fireplace. Master suite is on the first floor with en suite bathroom, dual sinks, separate tub, separate shower, nice size walk in closet. Large game room upstairs, all other bedrooms upstairs. Charming inground pool, with waterfall and outdoor covered bar. Come see while it lasts.

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: 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
 

$217,710$266,090$241,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$893
Property Tax -$555
Property Insurance -$168
Property Management Fees -$99
CASH FLOW
-$64

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.

$241,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,854

INVESTMENT

$69,854

Down Payment
$60,475
Rehab Estimate
$5,750
Closing Costs
$3,629

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$893

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,475
Loan Amount $181,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7254$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 3352 Raleigh Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.68
    •  
  • 3416 Plantation Lane Fort Worth, TX 1
    • 5 beds 3 baths ∙ 2,387 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,387 Sqft ∙ Built 1994
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 3220 Marie Lane Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1992
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.70
    •  
  • 3412 Michelle Ridge Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2006
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 7945 Val Verde Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,560 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,560 Sqft ∙ Built 1989
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
PROPERTY LISTING DETAILS
George Payne
Ambrose Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469988
Last Updated: 11/14/2020
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