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4009 Ellenboro Lane Fort Worth, TX 76244

3 Beds 3 Baths 2,278 sqft Built 2006

INVESTimate

$289,500

List Price

$1,860

$1,674 - $2,046

Rent Est.

$317,176  ( +9.56%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $127.09
  • 8 Days on Market
  • MLS # : 14416159
  • Updated Date : 08/25/2020 at 12:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,278 sqft
  • Baths : 2 full , 1 half
Listing Agent

Summit, Realtors

Listing Agent's Description

Immaculate move-in ready home with elegant fireplace, recent paint, and upgraded roof. Highly desirable open plan kitchen features upgraded cabinetry and stainless appliances. Oven and dishwasher are recently replace. Shutters all throughout the house. Very spacious master with sitting window bench and treetop views. All bedrooms are upstairs except for dining or office located on the first floor. No expense spared by the owners to make this home truly comfortable and unique, 2 min walk to park, large playground, comm pool, pond. Large backyard, lots of storage. Added extra concrete at the backyard a choice to have a fire-pit for the kids during winter time and huge area for BBQ.

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: 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

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
 

$260,550$318,450$289,500

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,068
Property Tax -$664
Property Insurance -$159
HOA -$34
Property Management Fees -$99
CASH FLOW
-$164

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.

$289,500

PROJECTED PRICE

$1,860

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.56%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,468

INVESTMENT

$82,468

Down Payment
$72,375
Rehab Estimate
$5,750
Closing Costs
$4,343

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,068

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,375
Loan Amount $217,125
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,981

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8603$2,0004$2,0455$2,200
$2,200
RENT COMPS ANALYSIS
  • 4009 Ellenboro Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.82
    •  
  • 4224 Highgate Road Fort Worth, TX 1
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2004
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 4008 Vista Greens Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2004
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 13049 Berrywood Trail Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2002
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.90
    •  
  • 12801 Parkersburg Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2007
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lori Sammons
Summit, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416159
Last Updated: 08/25/2020
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