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520 Kings Gate Road Willow Park, TX 76087

4 Beds 4 Baths 2,712 sqft Built 1980

INVESTimate

$365,000

List Price

$2,190

$1,971 - $2,409

Rent Est.

$386,864  ( +5.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $134.59
  • 6 Days on Market
  • MLS # : 14416696
  • Updated Date : 08/25/2020 at 12:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,712 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Beautiful Modern Farmhouse on just under an acre, corner lot with hilltop views. This 4 bedroom, 3.5 bathroom home has a study and a flex room, currently used as game room but could also be a dining room or a 5th bedroom. Kitchen has been remodeled with beautiful mahogany countertops, new back splash, open concept, new lighting and tile floors. Almost all the flooring in the house has been upgraded. Beautiful floor to ceiling, stone fireplace in the living room. New windows and siding throughout the home. In the master bathroom there is a claw foot tub and two walk in closets, and completely new shower. There is a workshop attached to the garage. Aerobic Septic System was replaced in 2020. So many upgrades!

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Mcanally Intermediate School Primary Regular 785 43 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Mcanally Intermediate School

  • Education Level: Primary
  • # of students: 785
  • # of teachers: 43
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,347
Property Tax -$835
Property Insurance -$184
Property Management Fees -$99
CASH FLOW
-$275

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.

$365,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.99%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,745

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
  • $0.81

    LIST RENT PER SQFT
  • $1,871

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,190
$2,190
RENT COMPS ANALYSIS
  • 520 Kings Gate Road Willow Park, TX 2
    • 4 beds 4 baths ∙ 2,712 Sqft ∙ Built 1980 4 beds 4 baths ∙ 2,712 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.81
    •  
  • 310 Fairway Drive Willow Park, TX 1
    • 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 1984
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
PROPERTY LISTING DETAILS
Hallie Cranford
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416696
Last Updated: 08/25/2020
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