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4424 Misty Meadow Drive Fort Worth, TX 76133

4 Beds 3 Baths 2,634 sqft Built 1983

$360,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $136.67
  • 2 Days on Market
  • MLS # : 14531160
  • Updated Date : 03/20/2021 at 13:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,634 sqft
  • Baths : 3 full
Listing Agent

Central Metro Realty

Listing Agent's Description

This home has what buyers are looking for these days. Beautiful light filled spaces for relaxed living, 4th BR could be home office, game room, guest suite. Inviting covered poolside patio and landscaped backyard. This 4 BR, 3 BA meticulously maintained home boasts bath renovations, kitchen updates, a block from beautiful French Lake and Candleridge Park with miles of trails. Candleridge offers the beauty of established tree lined streets surrounded by growing new SW Ft Worth development including shopping, entertainment and restaurants. Easy access to Chisholm Trail Parkway, schools, Clearfork, Downtown Fort Worth and beyond.

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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,250
Property Tax -$825
Property Insurance -$179
Property Management Fees -$99
CASH FLOW
-$384

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.

$360,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,962

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8953$1,9704$2,0655$2,200
$2,200
RENT COMPS ANALYSIS
  • 4424 Misty Meadow Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.75
    •  
  • 7327 Tree Ridge Court Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.68
    •  
  • 6712 Santiago Avenue Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 1976
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
  • 4713 Palm Ridge Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,065
    • $0.77
    •  
  • 6950 Foxridge Court Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 1978
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
PROPERTY LISTING DETAILS
Melanie Werth
Central Metro Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531160
Last Updated: 03/20/2021
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