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3600 Overlook Manor Weatherford, TX 76087

3 Beds 3 Baths 2,850 sqft Built 2018

$569,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $199.65
  • 4 Days on Market
  • MLS # : 14465774
  • Updated Date : 11/05/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,850 sqft
  • Baths : 3 full
Listing Agent

Joni Alexander-mckee, Broker

Listing Agent's Description

Fantastic executive custom built home located on wooded totally fenced 1 acre lot. The gourmet kitchen features two ovens, lrg island w dble sink, breakfast bar and walk-in pantry. The cozy office could be additional 4th bedroom. Ample room for a pool and additional side slab could be used for detached garage, cabana or RV, boat parking. The Mstr bdrm has a magnificent master en suite w oversized walk through double shower and separate vanities and 8x11 walk-in closet. Home is foam insulated and energy efficient. The 2nd floor unfinished room has been plumbed and has electrical and can be converted to a huge Game Room or 2nd master. 3car garage has room for additional freezer or refrig and has a storage closet.

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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 Martin Elementary School Primary Regular 590 34 5
Mary Martin Elementary School Middle Regular 590 34 5
Weatherford High School High Regular 2,238 148 6

Mary Martin Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Mary Martin Elementary School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$512,100$625,900$569,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$2,099
Property Tax -$1,211
Property Insurance -$192
Property Management Fees -$99
CASH FLOW
-$1,181

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.

$569,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$54

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,451

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,375
1$2,3752$2,4203$2,5954$2,650
$2,650
RENT COMPS ANALYSIS
  • 3600 Overlook Manor Weatherford, TX 2
    • 3 beds 3 baths ∙ 2,850 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,850 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.85
    •  
  • 922 Thistle Hill Trail Weatherford, TX 1
    • 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
  • 1624 Salado Trail Weatherford, TX 3
    • 3 beds 3 baths ∙ 2,667 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,667 Sqft ∙ Built 2007
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.97
    •  
  • 514 Saddle Ridge Trail Weatherford, TX 4
    • 4 beds 4 baths ∙ 3,197 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,197 Sqft ∙ Built 2006
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
Annette Beck
Joni Alexander-mckee, Broker
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465774
Last Updated: 11/05/2020
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