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4738 Calmont Avenue Fort Worth, TX 76107

6 Beds 6 Baths 4,600 sqft Built 2009 2 Units

$725,000

List Price

$6,000

$5.8K - $6.3K

Rent Est.

PROPERTY INFO

90% chance this property will be sold within the next 10 days HOT INVESTMENT
2 Units MULTIFAMILY
December 15, 2020 RECENTLY ADDED
FACTS
  • Multi Family Home
  • Built In 2009
  • Price/Sqft : $157.61
  • 7 Days on Market
  • MLS # : 14486149
  • Updated Date : 12/14/2020 at 16:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,600 sqft
  • Baths : 6 full
Listing Agent

Mark Dimas Properties

Listing Agent's Description

Location. Location. Location! In Arlington Heights by the Arts District, close to the University of North Texas Health Science Center, North of I 30 but close to Central Market. Get the best of all worlds. This duplex boasts two units at 2,300 sq feet each. Each unit has 3 bedrooms and 3 bathrooms along with a stand alone dining room and attached 2 car garage. 4736 has been leased as a short term rental and comes fully furnished. 4738 is leased until Spring, reach out to agent for more information on the lease and terms.

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: Arlington Heights

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k354k

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

Neighborhood: Arlington Heights

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
South Hi Mount Elementary School Primary Regular 543 32 6
W.c. Stripling Middle School Middle Regular 690 41 6
Arlington Heights High School High Regular 1,831 114 4

South Hi Mount Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 32
6
GreatSchools Rating

W.c. Stripling Middle School

  • Education Level: Middle
  • # of students: 690
  • # of teachers: 41
6
GreatSchools Rating

Arlington Heights High School

  • Education Level: High
  • # of students: 1,831
  • # of teachers: 114
4
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$5,400$6,600$6,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,000
EXPENSES Loan Payment -$2,675
Property Tax -$1,662
Property Insurance -$293
HOA -$120
Property Management Fees -$198
CASH FLOW
$1,052

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.

$725,000

PROJECTED PRICE

$6,000

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$203,625

INVESTMENT

$203,625

Down Payment
$181,250
Rehab Estimate
$11,500
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$149,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Vanessa Gamiz
Mark Dimas Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486149
Last Updated: 12/14/2020
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