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4748 Poplar Ridge Drive Fort Worth, TX 76123

4 Beds 2 Baths 2,428 sqft Built 2006

$299,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $123.52
  • 3 Days on Market
  • MLS # : 14504907
  • Updated Date : 01/22/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,428 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

Don't miss this single level home in Summer Creek Ranch! This home has been refreshed with new interior paint and new flooring. High ceilings and lots of natural light throughout. The kitchen features new granite countertops and stainless steel appliances. The primary ensuite bathroom has dual sinks, separate shower and tub, and a walk in closet. Other rooms are spacious. The fenced backyard has a covered patio. Vacant and ready for viewing, come see!

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: Summer Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Summer Creek Ranch

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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,042
Property Tax -$687
Property Insurance -$168
HOA -$48
Property Management Fees -$99
CASH FLOW
-$203

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.

$299,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,003

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8404$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 4748 Poplar Ridge Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,428 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,428 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.76
    •  
  • 4620 Pine Ridge Lane Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2003
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 4504 Stone Mountain Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 2001
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.75
    •  
  • 4408 Bloomfield Court Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2004
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 4717 Poplar Ridge Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,325 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,325 Sqft ∙ Built 2006
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
PROPERTY LISTING DETAILS
Robert Jones
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504907
Last Updated: 01/22/2021
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