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4840 Courtside Drive Fort Worth, TX 76133

3 Beds 4 Baths 3,050 sqft Built 1986

INVESTimate

$275,000

List Price

$1,940

$1,746 - $2,134

Rent Est.

$301,483  ( +9.63%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1986
  • Price/Sqft : $90.16
  • 9 Days on Market
  • MLS # : 14376809
  • Updated Date : 08/24/2020 at 09:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,050 sqft
  • Baths : 2 full , 2 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Come see this beautifully custom built home in the Brandingshire Place neighborhood. Homeowners took great pride in caring for this home. If you are looking for an open concept home you will not want to miss this one. Living area is spacious with vaulted ceilings & built in surround sound. If you love to cook you will love the large kitchen with built in appliances. Private study & sunroom for reading your favorite book. Master is located on the 1st floor with beautiful wood floors & a large master bath & closet. 2nd & 3rd bdrms are located on the 2nd floor with a full bath. Office downstairs could easily be made into another bedroom as well. Don’t miss an opportunity to come see this well taken care of home

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: Candleridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Candleridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Hazel Harvey Peace Elementary School Primary Regular 586 29 5
Wedgwood Middle School Middle Regular 931 54 4
Southwest High School High Regular 1,266 97 3

Hazel Harvey Peace Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 29
5
GreatSchools Rating

Wedgwood Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 54
4
GreatSchools Rating

Southwest High School

  • Education Level: High
  • # of students: 1,266
  • # of teachers: 97
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,015
Property Tax -$630
Property Insurance -$203
Property Management Fees -$99
CASH FLOW
-$7

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.

$275,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.63%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$12,438

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,975

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,9403$1,9454$2,0005$2,025
$2,025
RENT COMPS ANALYSIS
  • 4840 Courtside Drive Fort Worth, TX 2
    • 3 beds 4 baths ∙ 3,050 Sqft ∙ Built 1986 3 beds 4 baths ∙ 3,050 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.64
    •  
  • 6705 Windwood Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2000
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.62
    •  
  • 7301 Moon Ridge Court Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2001
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.66
    •  
  • 7441 Grass Valley Trail Fort Worth, TX 4
    • 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 2005
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.63
    •  
  • 4912 Shell Ridge Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,964 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,964 Sqft ∙ Built 2002
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.68
    •  
PROPERTY LISTING DETAILS
D'ann Howe
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14376809
Last Updated: 08/24/2020
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