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4305 Grassmere Road Fort Worth, TX 76244

4 Beds 2 Baths 2,062 sqft Built 2003

$259,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $125.61
  • 2 Days on Market
  • MLS # : 14502043
  • Updated Date : 01/30/2021 at 17:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,062 sqft
  • Baths : 2 full
Listing Agent

Classik Management Co

Listing Agent's Description

FANTASTIC HOME IN HARVEST RIDGE! Community pond, park, pool, greenbelt! Spacious floor plan with 4 bedrooms. All carpet replaced with WOOD Flooring, Elegant formal dining room that would work perfect as an office or playroom upfront. Spacious kitchen includes a walk in pantry, breakfast bar, breakfast nook and TONS of cabinet space. Open concept! Master suite includes a garden tub, separate shower, dual sinks and a walk in closet. Warm neutral tones! Tenant occupied until Nov 2021. Perfect opportunity for investors !!

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: Harvest Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Harvest Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Woodland Springs Elementary School Primary Regular 526 38 6
Timbercreek High School High Regular 2,957 160 8
Timbercreek High School High Unknown NA

Woodland Springs Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 38
6
GreatSchools Rating

Timbercreek High School

  • Education Level: High
  • # of students: 2,957
  • # of teachers: 160
8
GreatSchools Rating

Timbercreek High School

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

$233,100$284,900$259,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$900
Property Tax -$594
Property Insurance -$146
HOA -$33
Property Management Fees -$99
CASH FLOW
-$32

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.

$259,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.2%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,840

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,740
1$1,7402$1,7503$1,7504$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 4305 Grassmere Road Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.84
    •  
  • 13232 Harvest Ridge Road Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2002
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 13232 Settlers Trail Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2004
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 13149 Fencerow Road Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,223 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,223 Sqft ∙ Built 2005
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 4164 Capstone Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 2003
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
PROPERTY LISTING DETAILS
Darpan Vaidya
Classik Management Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502043
Last Updated: 01/30/2021
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