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4940 Stirrup Way Fort Worth, TX 76244

4 Beds 3 Baths 2,439 sqft Built 2004

$315,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $129.15
  • 2 Days on Market
  • MLS # : 14500822
  • Updated Date : 01/16/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,439 sqft
  • Baths : 3 full
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

VACANT! Incredible two story home! Dual master bedrooms! Upgrades throughout including a freshly painted interior, new laminate flooring throughout main living areas, and new carpet in all bedrooms! The kitchen offers new granite kitchen countertops and stainless steel appliances! Come tour today!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
Hillwood Middle School Middle Regular 1,087 65 8
Central High School High Regular 2,573 140 8

Lone Star Elementary School

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

Hillwood Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 65
8
GreatSchools Rating

Central High School

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

$283,500$346,500$315,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,094
Property Tax -$722
Property Insurance -$168
HOA -$23
Property Management Fees -$99
CASH FLOW
-$56

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.

$315,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.65%

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$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,041

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,049

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$2,0503$2,0504$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 4940 Stirrup Way Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.84
    •  
  • 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
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.72
    •  
  • 5040 Holliday Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2009
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.85
    •  
  • 4961 Happy Trail Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2003
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
  • 4825 Western Meadows Court Fort Worth, TX 5
    • 4 beds 4 baths ∙ 2,556 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,556 Sqft ∙ Built 2000
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
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 #: 14500822
Last Updated: 01/16/2021
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