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3836 Confidence Drive Fort Worth, TX 76244

3 Beds 2 Baths 1,846 sqft Built 2003

$284,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $154.33
  • 7 Days on Market
  • MLS # : 14519998
  • Updated Date : 02/26/2021 at 15:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,846 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Fabulous home loaded with updates in a great neighborhood! Owners have maintained this home immaculately. Take a short walk to the community pool, neighborhood park, fishing pond, and local walking trails. The kitchen allows for conversations with guests in the living room, breakfast area, and beautiful views of the backyard. Home also features a gas log fireplace, updated HVAC, front office or second living flex space, covered back patio with a sitting area, relaxing tub in the owner's suite with a walk-in shower, fiber optic internet, and so much more! Close to nearby airports. Easy access to shopping, NISD schools, and parks!

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: McPherson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: McPherson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Kay Granger Elementary School Primary Regular 900 55 9
John M. Tidwell Middle School Middle Regular 1,048 65 8
Byron Nelson High School High Unknown NA

Kay Granger Elementary School

  • Education Level: Primary
  • # of students: 900
  • # of teachers: 55
9
GreatSchools Rating

John M. Tidwell Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 65
8
GreatSchools Rating

Byron Nelson High School

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

$256,410$313,390$284,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$990
Property Tax -$653
Property Insurance -$134
HOA -$36
Property Management Fees -$99
CASH FLOW
-$142

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.

$284,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$3,517

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,763

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7704$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 3836 Confidence Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.96
    •  
  • 3832 Brandywine Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2003
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 12837 Parkersburg Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2006
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 12840 Danville Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2006
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.95
    •  
  • 12929 Glenville Court Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2005
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
PROPERTY LISTING DETAILS
Justin Ware
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519998
Last Updated: 02/26/2021
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