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400 Sandridge Drive Weatherford, TX 76085

4 Beds 2 Baths 2,416 sqft Built 2009

$390,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $161.42
  • 5 Days on Market
  • MLS # : 14479832
  • Updated Date : 12/02/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,416 sqft
  • Baths : 2 full
Listing Agent

Hbs Real Estate

Listing Agent's Description

You'll LOVE this 4 bedroom and 2 bathroom home situated on just over an acre in the sought after Sandstone Estates subdivision. This beauty offers 2,416 square feet of generous living space complete with hand scraped hard wood floors, granite counter tops, split bedrooms, and a 3 car garage! Outside you will find a covered porch and large yard for entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 76085

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k269k

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

Zip Code: 76085

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11081734

* 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
Mary Martin Elementary School Primary Regular 590 34 5
Mary Martin Elementary School Middle Regular 590 34 5
Weatherford High School High Regular 2,238 148 6

Mary Martin Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Mary Martin Elementary School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,439
Property Tax -$830
Property Insurance -$167
Property Management Fees -$99
CASH FLOW
-$355

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.

$390,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,919
1$1,9192$1,9253$2,0504$2,1805$2,195
$2,195
RENT COMPS ANALYSIS
  • 400 Sandridge Drive Weatherford, TX 4
    • 4 beds 2 baths ∙ 2,416 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,416 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.90
    •  
  • 621 Saddle Ridge Trail Weatherford, TX 1
    • 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2005
    property image
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,919
    • $0.87
    •  
  • 612 Sage Brush Drive Weatherford, TX 2
    • 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.87
    •  
  • 2222 Old Foundry Road Weatherford, TX 3
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2003
    property image
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.92
    •  
  • 1540 Stetson Drive Weatherford, TX 5
    • 3 beds 3 baths ∙ 2,416 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,416 Sqft ∙ Built 2012
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kali Jones
Hbs Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479832
Last Updated: 12/02/2020
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