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3509 Beekman Drive Fort Worth, TX 76244

3 Beds 3 Baths 2,263 sqft Built 2005

$325,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $143.61
  • 5 Days on Market
  • MLS # : 14464216
  • Updated Date : 11/04/2020 at 13:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,263 sqft
  • Baths : 3 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Make your appointment to see this Wonderful 2Story 3Bed, 3Bath Home in The Villages of Woodland Springs! Home has Plenty of Upgrades, 2016 Roof, 2017 HVAC unit, 2020 Water Heater, Eco Water Softening system with reverse osmosis unit installed in the Spacious Kitchen with 42 inch Cabinets, custom built-ins and Granite. You will Love the 4 HD cameras that monitor the home along with existing hard wired security system. Large Master Suite is downstairs and offers a private bathroom with a huge Walk in closet. 2nd floor has Large Game Room or Family Room and space for an Office with a Full Bath. Home is Located near Shopping, Restaurants, Highways and ISD A+ Schools. Pictures and video are coming soon!!!

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: Saratoga

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Saratoga

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9192403

* 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
Kay Granger Elementary School Primary Regular 900 55 9
John M. Tidwell Middle School Middle Regular 1,048 65 8

Kay Granger Elementary School

  • Education Level: Primary
  • # of students: 900
  • # of teachers: 55
9
GreatSchools Rating

John M. Tidwell Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 65
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,199
Property Tax -$745
Property Insurance -$158
HOA -$43
Property Management Fees -$99
CASH FLOW
-$104

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.

$325,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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-$6.0k-$4.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$9,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,161

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,1404$2,3905$2,395
$2,395
RENT COMPS ANALYSIS
  • 3509 Beekman Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.95
    •  
  • 12524 Morab Street Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 4621 Lance Leaf Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,125 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,125 Sqft ∙ Built 2008
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
  • 12737 Welsh Walk Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 2007
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.98
    •  
  • 3432 Furlong Way Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2005
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.00
    •  
PROPERTY LISTING DETAILS
Carla Johnson
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464216
Last Updated: 11/04/2020
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