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5144 Leeray Road Fort Worth, TX 76244

6 Beds 4 Baths 3,521 sqft Built 2007

$400,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $113.60
  • 3 Days on Market
  • MLS # : 14475273
  • Updated Date : 11/21/2020 at 10:12
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,521 sqft
  • Baths : 3 full , 1 half
Listing Agent

Angela Katai

Listing Agent's Description

Welcome home! Meticulously maintained by the original owners! Beautiful 6 bedroom (or 5 bedroom + study), 3.5 bath home with two living areas and a theatre style media room with huge screen! Beautiful trees line the oversized cul-de-sac backyard and provide privacy and relaxation from a busy day. Backyard is pool-sized with room left for entertaining, a play space for the kids and raised beds for gardening. Master bedroom and bedroom 1 (office) downstairs with four bedrooms and two full bathrooms upstairs. Updates include all new black stainless appliances in the kitchen, fresh paint in the master bedroom, master bathroom and upstairs bedrooms. Tons of storage throughout home including fully decked attic space.

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: 76244

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Zip Code: 76244

ZipNIR 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,476
Property Tax -$917
Property Insurance -$231
HOA -$31
Property Management Fees -$99
CASH FLOW
-$263

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.

$400,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,880

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,418

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,225
1$2,2252$2,3453$2,3954$2,490
$2,490
RENT COMPS ANALYSIS
  • 5144 Leeray Road Fort Worth, TX 4
    • 6 beds 4 baths ∙ 3,521 Sqft ∙ Built 2007 6 beds 4 baths ∙ 3,521 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.71
    •  
  • 9129 Belvedere Drive Fort Worth, TX 1
    • 5 beds 3 baths ∙ 3,256 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,256 Sqft ∙ Built 2001
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.68
    •  
  • 4820 Trail Hollow Drive Fort Worth, TX 2
    • 5 beds 3 baths ∙ 3,462 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,462 Sqft ∙ Built 2005
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.68
    •  
  • 9157 Brook Hill Lane Fort Worth, TX 3
    • 5 beds 4 baths ∙ 3,398 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,398 Sqft ∙ Built 2010
    property image
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.70
    •  
PROPERTY LISTING DETAILS
Rachel Averett
Angela Katai
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475273
Last Updated: 11/21/2020
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