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3932 Garden Springs Drive Fort Worth, TX 76123

3 Beds 2 Baths 1,863 sqft Built 2002

$215,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $115.41
  • 4 Days on Market
  • MLS # : 14502418
  • Updated Date : 01/22/2021 at 11:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,863 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

**MULTIPLE OFFERS. HIGHEST & BEST OFFERS DUE SATURDAY, JANUARY 23RD AT 5PM.** No showings after 5pm on Friday Jan. 22 This flexible, easily maintained 3 bed, 2 bath in south Tarrant County is ideal for anyone from a single homeowner to small family's 1st home! Off of the entrance you will find a large space that has flexible use. Kitchen has luxury vinyl plank, eat in dining, mosaic tile backsplash & granite counters. Master suite has bath with dual sinks, walk-in closet, separate shower & soaker tub. Natural light throughout makes the home feel spacious & open. *Seller needs lease until March 13th* Ask about saving thousands with special financing!

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

Neighborhood: Garden Springs

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Garden Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8891734

* 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
Jackie Carden Elementary School Primary Regular 485 36 5
Crowley Middle School Middle Regular 615 45 4
North Crowley High School High Regular 2,442 148 4

Jackie Carden Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 36
5
GreatSchools Rating

Crowley Middle School

  • Education Level: Middle
  • # of students: 615
  • # of teachers: 45
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$747
Property Tax -$493
Property Insurance -$135
Property Management Fees -$99
CASH FLOW
$17

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$215,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$10,007

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,509

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4903$1,5004$1,6755$1,680
$1,680
RENT COMPS ANALYSIS
  • 3932 Garden Springs Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.80
    •  
  • 3970 Fox Trot Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.83
    •  
  • 8516 Garden Springs Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2000
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.76
    •  
  • 3928 Garden Springs Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 2002
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.83
    •  
  • 3953 Tarpon Springs Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2018
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jordan Davis
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502418
Last Updated: 01/22/2021
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