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3521 Caspian Cove Fort Worth, TX 76244

3 Beds 3 Baths 2,304 sqft Built 2006

$315,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $136.72
  • 2 Days on Market
  • MLS # : 14522930
  • Updated Date : 03/06/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,304 sqft
  • Baths : 3 full
Listing Agent

Synergy Realty

Listing Agent's Description

Stunning Floor Plan by StanPac w Extensive Versatility. Impressive Entry feat Recessed Ceilings, Art Niches, an offset to Mud Room & ext tile to Family rm. Frml Dining feat Hrdwd, Fr Doors to Kitch & abundance of natural light w raised window design. Openly arranged Kitch & Family Rm. Space is Designed for Family w gas frpl, breakfast bar, cherry cabs, gas oven, coffee bar & window seat! Study feat Fr Doors & natural light. Study can be Flex Space, 4th Bdrm, Playroom, etc. Primary Ste is split from Secondary bdrms for privacy. Ste has Architecturally Accented Ceiling & can host King furn & more! Bath feat Garden Tub, Sep Shower & WI closet. Upstairs is a huge Game, Media Rm OR SECOND MASTER! Plus 3RD FULL Bath.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
Byron Nelson High School High Unknown NA

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

Byron Nelson High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,094
Property Tax -$722
Property Insurance -$160
HOA -$42
Property Management Fees -$99
CASH FLOW
$73

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.

$315,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.70%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,287

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,2003$2,3004$2,3455$2,390
$2,390
RENT COMPS ANALYSIS
  • 3521 Caspian Cove Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.95
    •  
  • 3509 Beekman Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2005
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
  • 3429 Beekman Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,295 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,295 Sqft ∙ Built 2005
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 12704 Lizzie Place Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2005
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $1.02
    •  
  • 12737 Welsh Walk Fort Worth, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Tina Svajda
Synergy Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522930
Last Updated: 03/06/2021
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