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4941 Water Ridge Lane Fort Worth, TX 76179

4 Beds 2 Baths 1,760 sqft Built 2006

$224,990

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $127.84
  • 4 Days on Market
  • MLS # : 14500297
  • Updated Date : 01/21/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Citiwide Properties Corp.

Listing Agent's Description

Don't miss this beautiful 4-2-2 in sought after neighborhood in Eagle Mt-Saginaw ISD. Great drive up appeal. Kitchen features great cabinet space with island with extra storage and large walk in pantry. Huge living area with beautiful wood look floors. Enjoy the well laid out and spacious master suite. Master bath has a large garden tub with separate shower. Nice fenced yard for the kids to play complete with landscaping and sprinkler system. Neighborhood playground and walking paths. This well maintained home will not last long!

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: Parkview Hills

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Parkview Hills

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
Parkview Elementary School Primary Regular 695 40 6
Creekview Middle School Middle Regular 801 47 7

Parkview Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 40
6
GreatSchools Rating

Creekview Middle School

  • Education Level: Middle
  • # of students: 801
  • # of teachers: 47
7
GreatSchools Rating
 

$202,491$247,489$224,990

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$781
Property Tax -$516
Property Insurance -$129
HOA -$12
Property Management Fees -$99
CASH FLOW
$73

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$224,990

PROJECTED PRICE

$1,610

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,372

INVESTMENT

$65,372

Down Payment
$56,248
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,248
Loan Amount $168,743
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$14,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4953$1,6104$1,7455$1,750
$1,750
RENT COMPS ANALYSIS
  • 4941 Water Ridge Lane Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.91
    •  
  • 4917 Water Ridge Lane Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,724 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,724 Sqft ∙ Built 2006
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.86
    •  
  • 4952 Parkview Hills Lane Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,724 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,724 Sqft ∙ Built 2005
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 5121 Meandering Creek Lane Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2011
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.97
    •  
  • 4905 Creek Ridge Trail Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Michelle Minor
Citiwide Properties Corp.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500297
Last Updated: 01/21/2021
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