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3612 Mohawk Trail Lake Worth, TX 76135

3 Beds 2 Baths 1,673 sqft Built 2021

$310,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $185.30
  • 3 Days on Market
  • MLS # : 14503320
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful New Home. Open Floor Plan. Laminate & Porcelain Flooring throughout House. Gorgeous Kitchen with White Built in Cabinets with Hardware. Black Granite. Undermounted Sink. Whirlpool Stainless Appliances. Pendant Lights, Breakfast Bar. Ceiling Fans in all Bedrooms. Covered Porch & Patio. Large Lot with Front Landscaping. Great Location. Near Lake, Restaurants, Shopping & Highways. Easy Access to Downtown Fort Worth.

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: Lake Worth

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $78k243k

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

Neighborhood: Lake Worth

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7471734

* 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
Effie Morris Elementary School Primary Regular 376 29 2
Lucyle Collins Middle School Middle Regular 478 33 3
Lake Worth High School High Regular 744 52 3

Effie Morris Elementary School

  • Education Level: Primary
  • # of students: 376
  • # of teachers: 29
2
GreatSchools Rating

Lucyle Collins Middle School

  • Education Level: Middle
  • # of students: 478
  • # of teachers: 33
3
GreatSchools Rating

Lake Worth High School

  • Education Level: High
  • # of students: 744
  • # of teachers: 52
3
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,077
Property Tax -$697
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
-$377

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$310,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$84,150

INVESTMENT

$84,150

Down Payment
$77,500
Rehab Estimate
$2,000
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$57

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,656

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,800
$1,800
RENT COMPS ANALYSIS
  • 3612 Mohawk Trail Lake Worth, TX 1
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.97
    •  
  • 4901 Lemon Grove Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 2014
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Lori Mira
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503320
Last Updated: 02/05/2021
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