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345 Chalkstone Drive Fort Worth, TX 76131

4 Beds 3 Baths 2,253 sqft Built 2011

$290,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $128.72
  • 2 Days on Market
  • MLS # : 14519964
  • Updated Date : 02/28/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,253 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

This is the home you have been waiting for... Beautifully updated, starting with the front door, hardwood floors, architectural details including crown molding and accent medallions on the ceiling. One living area, one dining area, kitchen, half bath, and laundry room on the main floor. 4 bedrooms and 2 full bathrooms upstairs. Spacious gourmet kitchen with granite counters, stone backsplash, and stainless steel appliances. Updated master bathroom with granite counters, walk in tile shower, garden tub and two sinks. 37x23 outdoor living space. Minutes from 287 for an easy commute. The neighborhood amenities include a pool, playground, and walking-jogging trails.

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: Trails of Fossil Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Trails of Fossil Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Sonny And Allegra Nance Elementary School Primary Regular 456 30 5
Chisholm Trail Middle School Middle Regular 899 64 7
Byron Nelson High School High Regular 2,552 147 8

Sonny And Allegra Nance Elementary School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 30
5
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,007
Property Tax -$665
Property Insurance -$157
HOA -$20
Property Management Fees -$99
CASH FLOW
-$108

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.

$290,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,011

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8403$1,8504$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 345 Chalkstone Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.82
    •  
  • 10321 Pyrite Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2012
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 9924 Amosite Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 2016
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 10204 Fox Haven Court Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2018
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 10520 Winding Passage Way Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2006
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
PROPERTY LISTING DETAILS
Sabrina Fernando
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519964
Last Updated: 02/28/2021
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