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3616 Barber Creek Court Fort Worth, TX 76244

3 Beds 3 Baths 2,536 sqft Built 2020

INVESTimate

$495,000

List Price

$2,040

$1,836 - $2,244

Rent Est.

$529,848  ( +7.04%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $195.19
  • 8 Days on Market
  • MLS # : 14416439
  • Updated Date : 08/19/2020 at 14:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,536 sqft
  • Baths : 2 full , 1 half
Listing Agent

Listing Results, Llc

Listing Agent's Description

Spectacular quality, new construction by Ryan Panno with Ryan Homes, Transitional 3 bedroom 2.5 bath home with library-study, located in the gated community of The Villas of Barber Creek, perfect empty nester location to call home, traditional brick exterior with stone accents, open kitchen, dining and family room, natural light abounds in this open concept home with modern accents, hardwood flooring, natural stone countertops and stainless appliances, kitchen with large island open to family room. Large walk-in shower in master 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

Zip Code: 76244

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Zip Code: 76244

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Trinity Meadows Intermediate School Primary Regular 988 58 7
Trinity Springs Middle School Middle Regular 1,061 62 8
Timbercreek High School High Regular 2,957 160 8

Trinity Meadows Intermediate School

  • Education Level: Primary
  • # of students: 988
  • # of teachers: 58
7
GreatSchools Rating

Trinity Springs Middle School

  • Education Level: Middle
  • # of students: 1,061
  • # of teachers: 62
8
GreatSchools Rating

Timbercreek High School

  • Education Level: High
  • # of students: 2,957
  • # of teachers: 160
8
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,826
Property Tax -$1,135
Property Insurance -$174
HOA -$83
Property Management Fees -$99
CASH FLOW
-$1,277

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.

$495,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.04%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$133,175

INVESTMENT

$133,175

Down Payment
$123,750
Rehab Estimate
$2,000
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$1,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,086

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$2,0404$2,1495$2,150
$2,150
RENT COMPS ANALYSIS
  • 3616 Barber Creek Court Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,536 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,536 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.80
    •  
  • 3821 Cedar Falls Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2005
    property image
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 11724 Cloveridge Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2002
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 11805 Vienna Apple Road Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 2007
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,149
    • $0.90
    •  
  • 11329 Kenny Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,686 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,686 Sqft ∙ Built 2010
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jack Mclemore
Listing Results, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416439
Last Updated: 08/19/2020
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