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5221 Grand Mesa Drive Fort Worth, TX 76137

3 Beds 3 Baths 1,905 sqft Built 1989

$309,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $162.68
  • 2 Days on Market
  • MLS # : 14536815
  • Updated Date : 03/20/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,905 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Beutifully updated 3 bdrm home in Keller ISD! This won't last! Open living space with stunning fireplace. Wait til you see all the natural light that fills the house! Beautiful kitchen that boasts new granite counters, SS appliances and tile backsplash and stylish cabinets. Great living and dining area that is perfect for entertaining. Bright master bdrm has private bath with double vanity and separate bath. Utility room offers extra cabinet space as well. Extra storage building out in the backyard. Close to all sorts of shopping and dining.

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

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
Park Glen Elementary School Primary Regular 546 38 7
Central High School High Regular 2,573 140 8
Central High School High Unknown NA

Park Glen Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 38
7
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,573
  • # of teachers: 140
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,076
Property Tax -$710
Property Insurance -$137
HOA -$6
Property Management Fees -$99
CASH FLOW
-$359

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.

$309,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,076

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6703$1,7504$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 5221 Grand Mesa Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.88
    •  
  • 7504 Point Reyes Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 1990
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.94
    •  
  • 4621 Angelina Way Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1996
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 5332 Stillwater Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1997
    property image
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 7509 Los Padres Trail Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 1989
    property image
    LEASED 03/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
PROPERTY LISTING DETAILS
Veronica Fleury
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536815
Last Updated: 03/20/2021
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