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5117 Merced Drive Fort Worth, TX 76137

4 Beds 4 Baths 2,810 sqft Built 1996

$389,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $138.75
  • 4 Days on Market
  • MLS # : 14463398
  • Updated Date : 10/31/2020 at 17:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,810 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

MUST SEE! In Keller ISD this Remodeled Home has spacious areas and open floor plan. 2800 sq. ft. Colonial has vaulted ceilings, window seats, custom-built fireplace. Guest suite has full bath that can be a master bedroom on the main level. New Paint,Sprinkler system,Roof,Gutters,Flooring,fixtures, HVAC, Blinds,Tile,Toilets,Hardware throughout,Landscape,Patio with fresh paint,new french drain,new rails on garage door and Newer appliances.The Wood beam is a beautiful feature of the living room and the open balcony and staircase is open to the lower level. Any cook will love this custom kitchen! The outdoor living space is beautifully planned and pool has many upgrades. Close to Alliance shopping, 820 and I-35

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: Park Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Park Glen

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
Parkwood Hill Intermediate School Primary Regular 1,070 57 8
Hillwood Middle School Middle Regular 1,087 65 8
Central High School High Regular 2,573 140 8

Parkwood Hill Intermediate School

  • Education Level: Primary
  • # of students: 1,070
  • # of teachers: 57
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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,439
Property Tax -$894
Property Insurance -$190
HOA -$6
Property Management Fees -$99
CASH FLOW
-$736

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.

$389,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,023

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$1,9003$1,9954$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 5117 Merced Drive Fort Worth, TX 1
    • 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 1996 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.67
    •  
  • 7762 Teal Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1995
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.70
    •  
  • 8008 Rushmore Road Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 1993
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.71
    •  
  • 8232 Mount Shasta Circle Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 1996
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 5463 Blue Water Lake Drive Fort Worth, TX 5
    • 5 beds 3 baths ∙ 2,862 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,862 Sqft ∙ Built 2001
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.73
    •  
PROPERTY LISTING DETAILS
Dayna Mccracken
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463398
Last Updated: 10/31/2020
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