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4620 Prickly Pear Drive Fort Worth, TX 76244

4 Beds 3 Baths 2,589 sqft Built 2007

$325,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $125.53
  • 3 Days on Market
  • MLS # : 14527076
  • Updated Date : 03/05/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,589 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Open House March, 6th from 12pm-2pm. BEAUTIFUL 4 bedroom 2 and a half bath in highly sought after Villages of Woodland Springs and Keller ISD! Home features gorgeous laminate wood floors, like new carpet, gas cooktop, stainless steel appliances, island in kitchen, and 2 living areas. The master suite has separate tub and shower, double vanities, walk in closet, and is conveniently located on the first level. 3 bedrooms, a game room, and full bath upstairs. Nice covered pergola in the backyard, perfect for entertaining. Great location! Close to shopping, dining, and entertainment. Easy access to major highways. A MUST SEE before it’s too late!

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: Villages of Woodland Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Villages of Woodland Springs

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
Caprock Elementary School Primary Regular 743 52 4
Timbercreek High School High Regular 2,957 160 8
Caprock Elementary School Primary Unknown NA

Caprock Elementary School

  • Education Level: Primary
  • # of students: 743
  • # of teachers: 52
4
GreatSchools Rating

Timbercreek High School

  • Education Level: High
  • # of students: 2,957
  • # of teachers: 160
8
GreatSchools Rating

Caprock Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,129
Property Tax -$745
Property Insurance -$177
HOA -$46
Property Management Fees -$99
CASH FLOW
-$55

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.

$325,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,256

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,214

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1403$2,1904$2,1955$2,395
$2,395
RENT COMPS ANALYSIS
  • 4620 Prickly Pear Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.83
    •  
  • 12321 Dogwood Springs Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,684 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,684 Sqft ∙ Built 2009
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 4676 Lance Leaf Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2006
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.91
    •  
  • 12513 Lizzie Place Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,624 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,624 Sqft ∙ Built 2005
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.84
    •  
  • 3412 Furlong Way Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2005
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.89
    •  
PROPERTY LISTING DETAILS
Tony Green
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527076
Last Updated: 03/05/2021
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