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5013 Cassidy Lane Fort Worth, TX 76244

3 Beds 3 Baths 2,349 sqft Built 2009

$330,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $140.49
  • 2 Days on Market
  • MLS # : 14478697
  • Updated Date : 12/05/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,349 sqft
  • Baths : 2 full , 1 half
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

Immaculate, well-maintained home in the beautiful cape cod section of Heritage. This home features an inviting and open floor plan. Current owners added hardwoods throughout, gutters, improved HVAC efficiency, backyard landscaping, and expanded the patio to include a pergola and sun shades. Community amenities include sport courts, tennis and basketball, trails, pools, and clubhouse. Home is .2 mi. from the fishing pond, playground, and splashpad!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9192376

* 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,218
Property Tax -$756
Property Insurance -$163
HOA -$33
Property Management Fees -$99
CASH FLOW
-$239

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.

$330,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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-$8.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,061

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0303$2,0504$2,1955$2,250
$2,250
RENT COMPS ANALYSIS
  • 5013 Cassidy Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,349 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,349 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.86
    •  
  • 9005 Belvedere Drive Fort Worth, TX 1
    • 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
    •  
  • 5040 Holliday Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2009
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.85
    •  
  • 4964 Grinstein Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,388 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,388 Sqft ∙ Built 2007
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.92
    •  
  • 5032 Harney Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2008
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
PROPERTY LISTING DETAILS
Beverly Pitchford
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478697
Last Updated: 12/05/2020
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