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3408 Derby Court Fort Worth, TX 76123

5 Beds 3 Baths 2,387 sqft Built 1993

INVESTimate

$229,900

List Price

$1,600

$1,440 - $1,760

Rent Est.

$252,729  ( +9.93%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $96.31
  • 7 Days on Market
  • MLS # : 14417856
  • Updated Date : 08/22/2020 at 21:04
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,387 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Associates 1

Listing Agent's Description

REMARKABLE PULTE HOME ON QUIET CUL-DE-SAC LOT * GREAT FLOORPLAN WITH MASTER BEDROOM DOWNSTAIRS AND 4 SECONDARY BEDROOMS UPSTAIRS * OPEN KITCHEN AND LIVING AREA WITH BREAKFAST BAR

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: Southgate

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $102k243k

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

Neighborhood: Southgate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8601734

* 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
Jackie Carden Elementary School Primary Regular 485 36 5
Crowley Middle School Middle Regular 615 45 4
North Crowley High School High Regular 2,442 148 4

Jackie Carden Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 36
5
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
 

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

PURCHASE PRICE

$1,440$1,760$1,600

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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$848
Property Tax -$527
Property Insurance -$165
Property Management Fees -$99
CASH FLOW
-$39

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$229,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.93%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6003$1,6504$1,7255$1,850
$1,850
RENT COMPS ANALYSIS
  • 3408 Derby Court Fort Worth, TX 2
    • 5 beds 3 baths ∙ 2,387 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,387 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.67
    •  
  • 3301 Plantation Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1987
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.67
    •  
  • 3416 Plantation Lane Fort Worth, TX 3
    • 5 beds 3 baths ∙ 2,387 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,387 Sqft ∙ Built 1994
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 3220 Marie Lane Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1992
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.70
    •  
  • 3412 Michelle Ridge Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2006
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
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 #: 14417856
Last Updated: 08/22/2020
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