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4505 Stone Mountain Drive Fort Worth, TX 76123

3 Beds 2 Baths 1,760 sqft Built 2001

$260,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $147.73
  • 3 Days on Market
  • MLS # : 14492963
  • Updated Date : 01/01/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

The Property Shop

Listing Agent's Description

Start the new year in a new home with a pool! This beautiful well cared for home offers 3 bedrooms and 2 bathrooms. Office can be made to a 4th bedroom and already framed for a door into the hallway with a nook for a closet. Spacious eat in kitchen with plenty of counter and cabinet space, decorative lighting and tile backsplash. Tons of natural light throughout the home. Large master suite provides ample room for large furniture, a sitting area and direct access to the backyard with a sparkling pool! Both doors to the backyard have built in retractable screen doors. Enjoy the outdoors from the pool, pool deck or open patio. Walking distance to parks and schools not far from dining, shopping and entertainment.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Stone Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Stone Meadow

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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$959
Property Tax -$608
Property Insurance -$129
HOA -$33
Property Management Fees -$99
CASH FLOW
-$99

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.

$260,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,487

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3993$1,4954$1,6255$1,730
$1,730
RENT COMPS ANALYSIS
  • 4505 Stone Mountain Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.98
    •  
  • 8704 Hunters Creek Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 2001
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
  • 3970 Fox Trot Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.83
    •  
  • 8601 Fernhill Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2004
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 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
    •  
PROPERTY LISTING DETAILS
Dan Hohmann
The Property Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492963
Last Updated: 01/01/2021
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