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4228 Periwinkle Drive Fort Worth, TX 76137

3 Beds 2 Baths 1,206 sqft Built 1985

$199,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $165.01
  • 3 Days on Market
  • MLS # : 14520893
  • Updated Date : 02/26/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,206 sqft
  • Baths : 2 full
Listing Agent

Martin Realty Group

Listing Agent's Description

Honey stop the car!! This adorable and super affordable home is ready for its new owners! This lovely home offers 3 bedrooms and 2 full baths. The living room boasts vaulted ceilings and a gorgeous wood-burning fireplace. The updated kitchen offers a modern farmhouse vibe with beautiful blue cabinets, stainless steel dishwasher and microwave and plenty of room for a breakfast table. Large backyard and open patio offer a great outdoor space! Wonderful location in Keller ISD, close to shopping and restaurants. Showings to start February 27th. This one will not last long!!

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

Neighborhood: Summerfields

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Summerfields

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8851734

* 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
North Riverside Elementary School Primary Regular 461 41 4
Fossil Ridge High School High Regular 2,308 133 7
Fossil Ridge High School High Unknown NA

North Riverside Elementary School

  • Education Level: Primary
  • # of students: 461
  • # of teachers: 41
4
GreatSchools Rating

Fossil Ridge High School

  • Education Level: High
  • # of students: 2,308
  • # of teachers: 133
7
GreatSchools Rating

Fossil Ridge High School

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

$179,100$218,900$199,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$691
Property Tax -$456
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
$7

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.

$199,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$800k

PROJECTED ANNUAL CASH FLOW

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

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$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$8,450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,345

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4754$1,5005$1,540
$1,540
RENT COMPS ANALYSIS
  • 4228 Periwinkle Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.12
    •  
  • 7400 Southwind Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1983
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.12
    •  
  • 7908 Gardengate Lane Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1992
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.12
    •  
  • 3801 Huckleberry Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1987
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.12
    •  
  • 3716 Chaddybrook Lane Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1993
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.10
    •  
PROPERTY LISTING DETAILS
Nicole Smith
Martin Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520893
Last Updated: 02/26/2021
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