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3725 Greenstone Drive Fort Worth, TX 76137

3 Beds 2 Baths 1,327 sqft Built 1985

INVESTimate

$210,000

List Price

$1,400

$1,260 - $1,540

Rent Est.

$234,528  ( +11.68%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $158.25
  • 2 Days on Market
  • MLS # : 14409815
  • Updated Date : 08/25/2020 at 09:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,327 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Wonderful 3-bedroom, 2 bath home located in Keller ISD and the highly desirable Summerfield neighborhood. Cozy living room with charming brick wood burning fireplace. House features split bedroom, vaulted ceilings, over-sized main bedroom and bath with large walk-in closet. House is wired for security camera system. Enjoy the peaceful backyard in this beauty. Close to shopping and restaurants and easy access to major highways and airports.

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

Neighborhood: Summerfields

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Summerfields

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8851734

* 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
Chisolm Trail Intermediate School Primary Regular 883 58 5
Fossil Hill Middle School Middle Regular 918 66 6
Fossil Ridge High School High Regular 2,308 133 7

Chisolm Trail Intermediate School

  • Education Level: Primary
  • # of students: 883
  • # of teachers: 58
5
GreatSchools Rating

Fossil Hill Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 66
6
GreatSchools Rating

Fossil Ridge High School

  • Education Level: High
  • # of students: 2,308
  • # of teachers: 133
7
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$775
Property Tax -$481
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
-$59

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.

$210,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.68%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$6,416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,403

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4504$1,4755$1,525
$1,525
RENT COMPS ANALYSIS
  • 3725 Greenstone Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.06
    •  
  • 6924 Wayfarer Trail Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,361 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,361 Sqft ∙ Built 1985
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 3901 Springside Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 1983
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.10
    •  
  • 7557 Bigleaf Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1979
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.01
    •  
  • 7304 Whitewood Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 1,454 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,454 Sqft ∙ Built 1979
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.05
    •  
PROPERTY LISTING DETAILS
Rick Brame
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14409815
Last Updated: 08/25/2020
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