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5157 Raymond Drive Fort Worth, TX 76244

4 Beds 3 Baths 3,104 sqft Built 2003

$299,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $96.33
  • 3 Days on Market
  • MLS # : 14484178
  • Updated Date : 12/19/2020 at 12:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,104 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

** MULTIPLE OFFERS RECEIVED! OFFER DEADLINE 12.19 midnight**WELCOME HOME to Upgrades galore! You will feel at home from the very first step: with a tall foyer, cute barn doors that nestle a Formal Dining or Office Space. Brand new floors and fresh paint throughout. In the kitchen you will be WOW-ed with QUARTZ counters, white cabinets, a farmhouse apron sink and a spacious pantry. Enjoy your fireplace and family time in the bright & open family room. Owner's suite is downstairs and so is a large utility room. Upstairs there is a HUGE Gameroom with 3 bedrooms and full bath. During the summer, entertain in style in the Extended Patio and XL Yard. Too many updates to list, come and see this one! It won't last!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Heights of Park Vista

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Heights of Park Vista

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,103
Property Tax -$685
Property Insurance -$207
HOA -$27
Property Management Fees -$99
CASH FLOW
$69

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.

$299,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.73%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$20,660

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,483

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,2003$2,5004$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 5157 Raymond Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 3,104 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,104 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.71
    •  
  • 5825 Haven Lake Way Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2011
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 9017 Hawley Drive Fort Worth, TX 3
    • 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2008
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
  • 4976 Grinstein Drive Fort Worth, TX 4
    • 4 beds 4 baths ∙ 3,292 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,292 Sqft ∙ Built 2012
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.79
    •  
  • 9104 Wiggins Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 2006
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Ludwin Flores
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484178
Last Updated: 12/19/2020
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