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4241 Fairway Crossing Drive Fort Worth, TX 76137

4 Beds 3 Baths 3,077 sqft Built 1998

INVESTimate

$404,800

List Price

$2,440

$2,196 - $2,684

Rent Est.

$443,499  ( +9.56%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $131.56
  • 9 Days on Market
  • MLS # : 14415593
  • Updated Date : 08/20/2020 at 11:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,077 sqft
  • Baths : 2 full , 1 half
Listing Agent

Congress Realty

Listing Agent's Description

Beautiful 4 bedroom, 2.5 bath in golf course community, close to shopping, and easy accessible to freeway for easy commute. Gleaming hardwood floor on main level, staircase, and hall. Tile in kitchen and baths. New roof in 2020. Updated inside paint in 2020. This immaculate home has a formal dining room, HVAC with natural gas, a recent renovated kitchen with granite and stainless steel appliances. Side load garage. Private backyard with pristine pool awaits you.

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: Fairway Bend

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $104k309k

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

Neighborhood: Fairway Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9192378

* 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
Chisolm Trail Intermediate School Primary Regular 883 58 5
Fossil Hill Middle School Middle Regular 918 66 6
Fossil Ridge High School High Regular 2,308 133 7

Chisolm Trail Intermediate School

  • Education Level: Primary
  • # of students: 883
  • # of teachers: 58
5
GreatSchools Rating

Fossil Hill Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 66
6
GreatSchools Rating

Fossil Ridge High School

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

$364,320$445,280$404,800

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,494
Property Tax -$928
Property Insurance -$205
HOA -$500
Property Management Fees -$99
CASH FLOW
-$785

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$404,800

PROJECTED PRICE

$2,440

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.56%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,022

INVESTMENT

$113,022

Down Payment
$101,200
Rehab Estimate
$5,750
Closing Costs
$6,072

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,200
Loan Amount $303,600
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$59

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,000

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$1,9954$2,1505$2,440
$2,440
RENT COMPS ANALYSIS
  • 4241 Fairway Crossing Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 3,077 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,077 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.79
    •  
  • 4526 Parkview Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 2001
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.66
    •  
  • 7020 Indiana Avenue Fort Worth, TX 2
    • 5 beds 3 baths ∙ 2,944 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,944 Sqft ∙ Built 1993
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.66
    •  
  • 6754 Trilobite Trail Fort Worth, TX 3
    • 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1999
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.62
    •  
  • 3836 Weatherstone Drive Fort Worth, TX 4
    • 4 beds 4 baths ∙ 3,268 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,268 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.66
    •  
PROPERTY LISTING DETAILS
Jared English
Congress Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415593
Last Updated: 08/20/2020
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