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3924 Hemlock Street Fort Worth, TX 76137

3 Beds 2 Baths 1,534 sqft Built 1983

$231,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $150.59
  • 6 Days on Market
  • MLS # : 14462065
  • Updated Date : 10/29/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,534 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Fort Worth one-story home offers a two-car garage. This home is vacant and cleaned regularly.

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
 

$207,900$254,100$231,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$852
Property Tax -$530
Property Insurance -$116
Property Management Fees -$99
CASH FLOW
-$77

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.

$231,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,965

INVESTMENT

$66,965

Down Payment
$57,750
Rehab Estimate
$5,750
Closing Costs
$3,465

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$852

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,750
Loan Amount $173,250
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$6,205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,511

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5203$1,5504$1,5655$1,595
$1,595
RENT COMPS ANALYSIS
  • 3924 Hemlock Street Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.99
    •  
  • 7557 Bigleaf Lane Fort Worth, TX 1
    • 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
    •  
  • 4016 Longstraw Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1981
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 3913 Chestnut Street Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1983
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.97
    •  
  • 4113 Chestnut Street Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1980
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462065
Last Updated: 10/29/2020
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