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4032 Mackinac Drive Fort Worth, TX 76036

3 Beds 2 Baths 1,951 sqft Built 2020

$262,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $134.75
  • 4 Days on Market
  • MLS # : 14466514
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,951 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

New! This lovely 3 bedroom home features a large family room with lots of light. The fully equipped kitchen showcases new, energy efficient kitchen appliances (including refrigerator), and stunning granite countertops. The spacious master suite features a large walk in closet, garden tub and separate walk in shower. This home is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
S.h. Crowley Intermediate School Primary Regular 456 26 4
S.h. Crowley Intermediate School Middle Regular 456 26 4
Crowley High School High Regular 2,033 150 4

S.h. Crowley Intermediate School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

S.h. Crowley Intermediate School

  • Education Level: Middle
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating
 

$236,610$289,190$262,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$970
Property Tax -$651
Property Insurance -$140
HOA -$8
Property Management Fees -$99
CASH FLOW
-$188

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$262,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

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$71,669

INVESTMENT

$71,669

Down Payment
$65,725
Rehab Estimate
$2,000
Closing Costs
$3,944

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$970

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,725
Loan Amount $197,175
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,216

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,702

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,535
1$1,5352$1,5953$1,6004$1,6805$1,800
$1,800
RENT COMPS ANALYSIS
  • 4032 Mackinac Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.86
    •  
  • 900 Oarlock Drive Crowley, TX 1
    • 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 2007
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.86
    •  
  • 1100 Boxwood Drive Crowley, TX 2
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2006
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 4108 Tower Bridge Lane Crowley, TX 3
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2017
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 1112 Switchgrass Lane Crowley, TX 5
    • 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2006
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466514
Last Updated: 11/05/2020
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