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4400 Southbend Drive Fort Worth, TX 76123

4 Beds 2 Baths 1,901 sqft Built 2005

INVESTimate

$235,000

List Price

$1,560

$1,404 - $1,716

Rent Est.

$250,815  ( +6.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $123.62
  • 6 Days on Market
  • MLS # : 14418313
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,901 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

VACANT! Incredible single-story home on a spacious corner lot! Home features fresh interior paint and new carpet in all the bedrooms. Home features solid surface flooring throughout the main living areas. The open kitchen features stainless steel appliances and quartz countertops. The backyard is an excellent space to entertain! Come tour today!

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: Summer Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Summer Creek Ranch

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
Sue Crouch Intermediate School Primary Regular 501 27 5
Sue Crouch Intermediate School Middle Regular 501 27 5
North Crowley High School High Regular 2,442 148 4

Sue Crouch Intermediate School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 27
5
GreatSchools Rating

Sue Crouch Intermediate School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 27
5
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$867
Property Tax -$539
Property Insurance -$137
HOA -$48
Property Management Fees -$99
CASH FLOW
-$130

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.

$235,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.73%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$3,357

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,564

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5003$1,5604$1,6255$1,750
$1,750
RENT COMPS ANALYSIS
  • 4400 Southbend Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,901 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,901 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.82
    •  
  • 8732 Hunters Creek Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 2001
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.79
    •  
  • 8741 Bloomfield Terrace Fort Worth, TX 2
    • 3 beds 3 baths ∙ 1,866 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,866 Sqft ∙ Built 2004
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 4736 Slippery Rock Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,933 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,933 Sqft ∙ Built 2005
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.84
    •  
  • 4508 Embercrest Lane Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2003
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
PROPERTY LISTING DETAILS
Robert Jones
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418313
Last Updated: 08/22/2020
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