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4012 Cloud Cover Road Roanoke, TX 76262

4 Beds 3 Baths 2,724 sqft Built 2008

$325,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $119.31
  • 3 Days on Market
  • MLS # : 14536100
  • Updated Date : 03/19/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,724 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Stunning home in located in the sought after Northwest ISD! The home welcomes you with spacious entry, beautiful wood floors, & fresh paint throughout. This 2 story home offers open floor plan great for entertaining & large master suite downstairs. Upstairs you will find large flex area and 3 additional bedrooms. Relax after a long day on the outdoor patio. Wonderful community offers pool, playground, and great outdoor grass areas. Elementary & Middle schools within walking distance. This home will end your home search!

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: Lakes at Lost Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k350k

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

Neighborhood: Lakes at Lost Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262579

* 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
J. Lyndal Hughes Elementary School Primary Regular 547 35 5
John M. Tidwell Middle School Middle Regular 1,048 65 8
Byron Nelson High School High Unknown NA

J. Lyndal Hughes Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
5
GreatSchools Rating

John M. Tidwell Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 65
8
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,129
Property Tax -$777
Property Insurance -$185
HOA -$29
Property Management Fees -$99
CASH FLOW
-$99

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.

$325,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,111

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,1204$2,2755$2,300
$2,300
RENT COMPS ANALYSIS
  • 4012 Cloud Cover Road Roanoke, TX 3
    • 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.78
    •  
  • 3524 Bandera Ranch Road Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.71
    •  
  • 13904 Walnut Canyon Court Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 2006
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 4004 Hollow Lake Road Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2008
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.84
    •  
  • 4017 Cloud Cover Road Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2009
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jessica Hawley
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536100
Last Updated: 03/19/2021
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