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

5209 Sorghum Drive Fort Worth, TX 76179

4 Beds 2 Baths 2,480 sqft Built 2007

$289,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $116.90
  • 3 Days on Market
  • MLS # : 14481035
  • Updated Date : 12/04/2020 at 11:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,480 sqft
  • Baths : 2 full
Listing Agent

Fadal Buchanan & Associatesllc

Listing Agent's Description

SOUGHT AFTER EAGLE MOUNTAIN LAKE COMMUNITY! Beautiful floor plan, 4 bedrooms, Open concept layout with open entry leading to living room with gas fireplace, Eat in Kitchen boosts gas range, updated cabinets, breakfast bar for the whole family and lots of storage, Master suite is defined with its oversized sitting area and master bath with walk in closet, Enjoy your backyard patio off the kitchen, your community pool and park, Close to shopping and major highways, New roof and great community

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Twin Mills

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Twin Mills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191744

* 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
Lake Pointe Elementary School Primary Regular 664 35 8
Wayside Middle School Middle Regular 943 52 6
Boswell High School High Regular 1,605 106 7

Lake Pointe Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 35
8
GreatSchools Rating

Wayside Middle School

  • Education Level: Middle
  • # of students: 943
  • # of teachers: 52
6
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,070
Property Tax -$665
Property Insurance -$171
HOA -$40
Property Management Fees -$99
CASH FLOW
-$234

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.

$289,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

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

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,798

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7953$1,7954$1,8105$1,895
$1,895
RENT COMPS ANALYSIS
  • 5209 Sorghum Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.73
    •  
  • 8613 Hawkview Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,332 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,332 Sqft ∙ Built 2006
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.74
    •  
  • 5244 Wheat Sheaf Trail Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2005
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 5829 Mount Plymouth Point Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,338 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,338 Sqft ∙ Built 2007
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 7424 Innisbrook Lane Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2006
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.71
    •  
PROPERTY LISTING DETAILS
Dolores Fadal
Fadal Buchanan & Associatesllc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481035
Last Updated: 12/04/2020
BESbswy