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4000 Mesa Ridge Drive Fort Worth, TX 76137

4 Beds 5 Baths 4,298 sqft Built 1991

$540,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $125.64
  • 2 Days on Market
  • MLS # : 14474165
  • Updated Date : 11/21/2020 at 20:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,298 sqft
  • Baths : 3 full , 2 half
Listing Agent

Mersal Realty

Listing Agent's Description

Beautifully renovated home on the 15th tee box of Arnold Palmer designed Fossil Creek Golf Course. Stunning oversized windows wrap the back patio & balcony overlooking the fairway and provide tons of natural light. Kitchen features 5 gas burner stovetop, double convection ovens, deep single basin sink, granite countertops, and large island with additional seating. Magnificent wood flooring, three step crown moulding, and custom woodwork provide gorgeous accents to the wide open floorplan. The property has been well maintained, has a large 3-car garage and has a brand new roof in 2020. With a creek, pond and acres of woods out the back door, yet just minutes from major highways, this home will not last long!

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: Fairway Bend

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $104k309k

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

Neighborhood: Fairway Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9192378

* 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
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$1,992
Property Tax -$1,238
Property Insurance -$276
HOA -$58
Property Management Fees -$99
CASH FLOW
-$702

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.

$540,000

PROJECTED PRICE

$2,960

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.6%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$88

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $3,202

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,9603$3,999
$3,999
RENT COMPS ANALYSIS
  • 4000 Mesa Ridge Drive Fort Worth, TX 2
    • 4 beds 5 baths ∙ 4,298 Sqft ∙ Built 1991 4 beds 5 baths ∙ 4,298 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $0.69
    •  
  • 6885 Danieldale Drive Fort Worth, TX 1
    • 5 beds 4 baths ∙ 4,059 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,059 Sqft ∙ Built 2003
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.57
    •  
  • 3536 Clubgate Drive Fort Worth, TX 3
    • 5 beds 4 baths ∙ 4,343 Sqft ∙ Built 1988 5 beds 4 baths ∙ 4,343 Sqft ∙ Built 1988
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,999
    • $0.92
    •  
PROPERTY LISTING DETAILS
Joe Putman
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474165
Last Updated: 11/21/2020
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