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4621 Tanque Drive Fort Worth, TX 76137

4 Beds 2 Baths 1,896 sqft Built 1999

$245,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $129.22
  • 3 Days on Market
  • MLS # : 14504087
  • Updated Date : 01/23/2021 at 18:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,896 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

MULTIPLE OFFERS! Highest and Best by Sunday 1-23-2021 at 5pm. Welcome home to this beautiful 4 bed (or 3+study) home in the Park Glen subdivision. This home has been well taken care of and is waiting for its new owners. Spacious kitchen with window seat, granite and painted cabinets make this a delight for the best of chefs. Large living area with gas start fireplace and formal dining make the home perfect for entertaining. The floor plan boasts split bedrooms with a spacious master bedroom and large closet. The large open extended patio with landscaping will be wonderful for those Texas evenings. This family friendly neighborhood has a park and walking trails within the community. Keller ISD.

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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$851
Property Tax -$562
Property Insurance -$137
HOA -$6
Property Management Fees -$99
CASH FLOW
$86

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.

$245,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.71%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$16,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7004$1,7205$1,740
$1,740
RENT COMPS ANALYSIS
  • 4621 Tanque Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,896 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,896 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.92
    •  
  • 7963 Margarita Drive Fort Worth, TX 1
    • 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
    •  
  • 4665 Parkmount Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1998
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 4601 Mustang Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1997
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 4833 Great Divide Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1995
    property image
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.98
    •  
PROPERTY LISTING DETAILS
Lisa Harrow
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504087
Last Updated: 01/23/2021
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