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3612 Overlook Manor Weatherford, TX 76087

3 Beds 3 Baths 2,391 sqft Built 2019

$480,500

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $200.96
  • 6 Days on Market
  • MLS # : 14520852
  • Updated Date : 02/23/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,391 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

BEAUTIFUL custom 3 bedroom 2.5 bath home with 3 car garage on an amazing lot that even gives you a view of the lake from the vaulted back patio!! This home has great attention to detail, from the open concept kitchen with large entertaining island, beautiful custom lighting and large living area with a soaring floor to ceiling fireplace. The home has a formal dining that the current owner is using as a second living area or playroom. It has a split bedroom concept with a large master suite, beautiful master bath with his and her sinks, and even has his and her closets. In the desirable Martin Elementary School!!! Buyer to verify room square footage.

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
Tison Middle School Middle Regular 554 39 5
Weatherford High School High Regular 2,238 148 6
Whs Ninth Grade Center High Regular NA

Tison Middle School

  • Education Level: Middle
  • # of students: 554
  • # of teachers: 39
5
GreatSchools Rating

Weatherford High School

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

Whs Ninth Grade Center

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

$432,450$528,550$480,500

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,669
Property Tax -$1,023
Property Insurance -$165
Property Management Fees -$99
CASH FLOW
-$756

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.

$480,500

PROJECTED PRICE

$2,200

PROJECTED RENT

0.46%

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

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$133,083

INVESTMENT

$133,083

Down Payment
$120,125
Rehab Estimate
$5,750
Closing Costs
$7,208

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,669

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $120,125
Loan Amount $360,375
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,224

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,1003$2,2004$2,200
$2,200
RENT COMPS ANALYSIS
  • 3612 Overlook Manor Weatherford, TX 4
    • 3 beds 3 baths ∙ 2,391 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,391 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 1649 Signature Drive Weatherford, TX 1
    • 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 2018
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.95
    •  
  • 1105 Thistle Hill Trail Weatherford, TX 2
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 123 Crestview Drive Hudson Oaks, TX 3
    • 4 beds 2 baths ∙ 2,445 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,445 Sqft ∙ Built 2002
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jeannie Myers
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520852
Last Updated: 02/23/2021
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