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5228 Britton Ridge Lane Fort Worth, TX 76179

3 Beds 2 Baths 1,371 sqft Built 2009

$228,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $166.30
  • 5 Days on Market
  • MLS # : 14491468
  • Updated Date : 12/30/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,371 sqft
  • Baths : 2 full
Listing Agent

The Martino Group

Listing Agent's Description

Beautiful one story home available now in N Fort Worth! The open floor plan has tons of storage space and plenty of natural light. The kitchen is gorgeous with recently painted cabinets cabinets, a breakfast bar, black appliances, and is perfect for entertaining. The master suite is a retreat with a walk in closet, garden tub for soaking, and plenty of room. The backyard has a covered patio, perfect for grilling, and a storage shed for tools. The community park is right across the street for kids and a jogging-bike path near by.

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: Terrace Landing

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Terrace Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Parkview Elementary School Primary Regular 695 40 6
Ed Willkie Middle School Middle Regular 862 53 5

Parkview Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 40
6
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating
 

$205,200$250,800$228,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$841
Property Tax -$523
Property Insurance -$106
HOA -$25
Property Management Fees -$99
CASH FLOW
-$84

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.

$228,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,170

INVESTMENT

$66,170

Down Payment
$57,000
Rehab Estimate
$5,750
Closing Costs
$3,420

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,000
Loan Amount $171,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,908

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,323

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4954$1,5105$1,650
$1,650
RENT COMPS ANALYSIS
  • 5228 Britton Ridge Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.10
    •  
  • 5728 Blue Ribbon Road Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2005
    property image
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 6044 Grand Champion Boulevard Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2001
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 1084 Appaloosa Circle Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2004
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 924 Rose Crystal Way Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2004
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
PROPERTY LISTING DETAILS
Michelle Jackson
The Martino Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491468
Last Updated: 12/30/2020
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