Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

509 Sterling Drive Benbrook, TX 76126

4 Beds 2 Baths 2,130 sqft Built 2011

$349,900

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $164.27
  • 3 Days on Market
  • MLS # : 14513673
  • Updated Date : 02/06/2021 at 13:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,130 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

This beautifully maintained home features a grand entry way, office and built in shelves down the hallway. Inside dawns hand scraped hardwood flooring with tile in the kitchen and carpet in the rooms. The open living concept has a WB fireplace. The kitchen features a large island, granite countertops and nice dining area. The large master is complete with the en-suite bathroom featuring dual sinks, separate shower, garden tub and walk in closet. Split bedrooms with 3 secondary rooms, all sized great with high ceilings. Outside features a large covered patio with a built in wood burning fireplace, saltwater pool with attached spa and slide. The backyard is fenced in with an 8 foot privacy fence. Don't miss out!

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

Zip Code: 76126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k476k

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

Zip Code: 76126

ZipNIR 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
Westpark Elementary School Primary Regular 484 25 8

Westpark Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 25
8
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,215
Property Tax -$754
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
$11

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.

$349,900

PROJECTED PRICE

$2,230

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.6%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,017

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,077

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$2,1384$2,2305$2,250
$2,250
RENT COMPS ANALYSIS
  • 509 Sterling Drive Benbrook, TX 4
    • 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.05
    •  
  • 7133 Stewart Lane Benbrook, TX 1
    • 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 2005
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 7101 Crenshaw Drive Benbrook, TX 2
    • 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 2005
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 313 Sterling Drive Benbrook, TX 3
    • 4 beds 2 baths ∙ 2,210 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,210 Sqft ∙ Built 2007
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,138
    • $0.97
    •  
  • 5224 Cross Plains Court Fort Worth, TX 5
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 2014
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
PROPERTY LISTING DETAILS
Brannon Potts
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513673
Last Updated: 02/06/2021
BESbswy