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5074 Birchman Avenue Fort Worth, TX 76107

3 Beds 3 Baths 1,906 sqft Built 1996

$375,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $196.75
  • 4 Days on Market
  • MLS # : 14508198
  • Updated Date : 01/28/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,906 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fort Worth Property Group

Listing Agent's Description

Conveniently located in the heart of Fort Worth, this charming home in the gated community of Meadowmere Courts, boasts formal dining area and spacious living room with vaulted ceilings, gas fireplace and lots of natural light. Kitchen is open to living area with Corian counter tops, gas range with double ovens and breakfast bar for casual dining. Master Bedroom has a large en suite, including a walk in shower and separate tub, dual sinks and walk in closet. Two additional bedrooms on second level, with flex space for home office, exercise area or library. Outdoor living on both front patio with brick surround and back open patio. Attached please find 360 Virtual Tour to preview property in it's entirety.

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: Meadowmere

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $104k377k

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

Neighborhood: Meadowmere

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9192202

* 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
South Hi Mount Elementary School Primary Regular 543 32 6
W.c. Stripling Middle School Middle Regular 690 41 6
Arlington Heights High School High Regular 1,831 114 4

South Hi Mount Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 32
6
GreatSchools Rating

W.c. Stripling Middle School

  • Education Level: Middle
  • # of students: 690
  • # of teachers: 41
6
GreatSchools Rating

Arlington Heights High School

  • Education Level: High
  • # of students: 1,831
  • # of teachers: 114
4
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,303
Property Tax -$860
Property Insurance -$137
HOA -$108
Property Management Fees -$99
CASH FLOW
-$107

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.

$375,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.3%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$8,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,640

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4003$2,6004$2,7505$2,750
$2,750
RENT COMPS ANALYSIS
  • 5074 Birchman Avenue Fort Worth, TX 2
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.26
    •  
  • 4828 Curzon Avenue Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2005
    property image
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.27
    •  
  • 3437 W 6th Street Fort Worth, TX 3
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2013
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.32
    •  
  • 1412 Belle Place Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.41
    •  
  • 4805 Bryce Avenue Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2010
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.54
    •  
PROPERTY LISTING DETAILS
Sanford Finkelstein
Fort Worth Property Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508198
Last Updated: 01/28/2021
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