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4617 Mustang Drive Fort Worth, TX 76137

4 Beds 2 Baths 1,772 sqft Built 1996

$260,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $146.73
  • 2 Days on Market
  • MLS # : 14474212
  • Updated Date : 11/21/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,772 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Come home to your cozy 4 bedroom or 3 bedroom with study. large living room with fireplace, wood floors throughout except for kitchen, bathrooms and utility which are tile. Much upgrading throughout includes master bathroom and more. Master bedroom features bay windows for extended living space. Garage has a workbench, sink, and pegboard for all your home projects. pool. Highly rated Keller ISD, close to schools, shopping, restaurants, hospitals, etc. This home is close to the amenities which include Arcadia Park, playgrounds, greenbelts, pond, tennis, and walking trails. Sprinkler system and central vacuum complete the package.

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: Park Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Park Glen

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
Bluebonnet Elementary School Primary Regular 646 42 5
Fossil Hill Middle School Middle Regular 918 66 6
Fossil Ridge High School High Regular 2,308 133 7

Bluebonnet Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 42
5
GreatSchools Rating

Fossil Hill Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 66
6
GreatSchools Rating

Fossil Ridge High School

  • Education Level: High
  • # of students: 2,308
  • # of teachers: 133
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$959
Property Tax -$596
Property Insurance -$130
HOA -$6
Property Management Fees -$99
CASH FLOW
-$169

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

$1,620

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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-$6.0k-$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$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 70% 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

1.58

YEARS SAVED

$2,955

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,666

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6204$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 4617 Mustang Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.91
    •  
  • 4429 Windwillow Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1985
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 7963 Margarita Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 1998
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 4424 Windwillow Court Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 1987
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 4621 Angelina Way Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1996
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
PROPERTY LISTING DETAILS
Karen Blackburn
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474212
Last Updated: 11/21/2020
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