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420 Cross Ridge Circle Fort Worth, TX 76120

4 Beds 3 Baths 1,775 sqft Built 2020

INVESTimate

$290,900

List Price

$1,660

$1,494 - $1,826

Rent Est.

$313,619  ( +7.81%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $163.89
  • 10 Days on Market
  • MLS # : 14410268
  • Updated Date : 08/20/2020 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,775 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Ozark plan is a stunning, two-story home in the community of Oak Ridge. This gorgeous home has a spacious layout with 4 bedrooms, 2.5 baths, a huge living room and more. The Ozark features a formal dining room as well as a breakfast area connected to the kitchen. In addition, this home comes with a host of included upgrades such as stainless steel kitchen appliances, granite countertops, gorgeous wood cabinets and an attached two-car garage complete with Wi-Fi-enabled opener installed. Schedule a tour of the Ozark plan today

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: John T. White

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: John T. White

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8551734

* 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
Lowery Road Elementary School Primary Regular 692 39 5
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

Lowery Road Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 39
5
GreatSchools Rating

Handley Middle School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 42
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$261,810$319,990$290,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,073
Property Tax -$628
Property Insurance -$130
HOA -$27
Property Management Fees -$99
CASH FLOW
-$297

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$290,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.81%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,089

INVESTMENT

$79,089

Down Payment
$72,725
Rehab Estimate
$2,000
Closing Costs
$4,364

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,725
Loan Amount $218,175
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$596

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6604$1,6995$1,750
$1,750
RENT COMPS ANALYSIS
  • 420 Cross Ridge Circle Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.94
    •  
  • 916 Iona Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2014
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 7244 Retriever Lane Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 2003
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 7260 Specklebelly Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2005
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.95
    •  
  • 133 Goldeneye Lane Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
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 #: 14410268
Last Updated: 08/20/2020
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