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4908 Chaps Avenue Fort Worth, TX 76244

3 Beds 3 Baths 2,534 sqft Built 2004

$289,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $114.40
  • 3 Days on Market
  • MLS # : 14536288
  • Updated Date : 03/20/2021 at 12:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,534 sqft
  • Baths : 2 full , 1 half
Listing Agent

Teamvelu

Listing Agent's Description

Multiple Offers received, Best and Final due by Sunday Mar 21 Noon. Move-in ready 3bed 2.5bath in Keller ISD. Bright and full of light. Fresh Paint. Big kitchen. Lots of storage and counter space. Breakfast bar. Water line to refrigerator. Walk-in pantry. Big backyard with deck. Nice big master bedroom with two walk-in closets. Lots of windows for sun light. Spacious Master bath has separate shower, open space, linen closet. Master bedroom is separate from other two bedrooms for privacy. Every bedroom has walk-in closet. Open game room. Pool in common area. This two story house in prime location is a must see. Please contact listing agent today for showing. Thank You.

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: Coventry Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Coventry Hills

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
Lone Star Elementary School Primary Regular 750 48 8
Central High School High Regular 2,573 140 8
Central High School High Unknown NA

Lone Star Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 48
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,573
  • # of teachers: 140
8
GreatSchools Rating

Central High School

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

$260,910$318,890$289,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,007
Property Tax -$665
Property Insurance -$174
HOA -$23
Property Management Fees -$99
CASH FLOW
-$157

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.

$289,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,965

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,850

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,8104$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 4908 Chaps Avenue Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,534 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,534 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.71
    •  
  • 4932 Happy Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2003
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.72
    •  
  • 4855 Diamond Trace Trail Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,609 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,609 Sqft ∙ Built 2005
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.67
    •  
  • 8636 Lariat Circle Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,539 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,539 Sqft ∙ Built 2006
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 9005 Belvedere Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 2003
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.80
    •  
PROPERTY LISTING DETAILS
Raman Velu Velu
Teamvelu
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536288
Last Updated: 03/20/2021
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