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4305 King Richards Lane Fort Worth, TX 76133

4 Beds 5 Baths 3,754 sqft Built 1986

$409,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $108.95
  • 2 Days on Market
  • MLS # : 14512632
  • Updated Date : 02/06/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,754 sqft
  • Baths : 4 full , 1 half
Listing Agent

Batts Holding, Inc

Listing Agent's Description

Meticulously updated gem in the highly desirable neighborhood of Candle Ridge. Just a few steps to Lake Candle Ridge and the bike&hike trails of Park De Platos Park.Features new flooring & LED Lighting, SS Appliances, wine fridge, granite counter tops, two HVAC & duct system, Sprinkler System, new Sod, with updated, plumbing and electrical runs.Family room with valued ceiling and wood burning brick fireplace, opens to a large kitchen boasting a massive island with large seating area and oversized pendant lighting. Private dining room off kitchen.Each large bedroom offers its own in-suite updated bathroom and spacious walk-in closet. Master bath features dual head shower, dual vanities and large walk-in closets.

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: Candleridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Candleridge

NeighborhoodNIR 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
Hazel Harvey Peace Elementary School Primary Regular 586 29 5
Wedgwood Middle School Middle Regular 931 54 4
Southwest High School High Regular 1,266 97 3

Hazel Harvey Peace Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 29
5
GreatSchools Rating

Wedgwood Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 54
4
GreatSchools Rating

Southwest High School

  • Education Level: High
  • # of students: 1,266
  • # of teachers: 97
3
GreatSchools Rating
 

$368,100$449,900$409,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,421
Property Tax -$938
Property Insurance -$244
Property Management Fees -$99
CASH FLOW
-$361

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.

$409,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.6%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $2,903

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3403$2,6954$3,500
$3,500
RENT COMPS ANALYSIS
  • 4305 King Richards Lane Fort Worth, TX 2
    • 4 beds 5 baths ∙ 3,754 Sqft ∙ Built 1986 4 beds 5 baths ∙ 3,754 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.62
    •  
  • 8457 Tangleridge Drive Fort Worth, TX 1
    • 5 beds 4 baths ∙ 3,661 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,661 Sqft ∙ Built 2002
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.60
    •  
  • 5309 Sunnyway Drive Fort Worth, TX 3
    • 5 beds 4 baths ∙ 3,814 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,814 Sqft ∙ Built 2001
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.71
    •  
  • 4624 Ocean Drive Fort Worth, TX 4
    • 3 beds 4 baths ∙ 3,462 Sqft ∙ Built 2002 3 beds 4 baths ∙ 3,462 Sqft ∙ Built 2002
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Douglas Batts
Batts Holding, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512632
Last Updated: 02/06/2021
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