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5313 Summer Court Fort Worth, TX 76123

4 Beds 3 Baths 3,259 sqft Built 1987

$339,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $104.30
  • 7 Days on Market
  • MLS # : 14472160
  • Updated Date : 11/17/2020 at 21:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,259 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Associates 1

Listing Agent's Description

PICTURESQUE PERRY HOME ON PREMIUM CORNER LOT * GREAT CURB APPEAL! * GREAT NEIGHBORHOOD WITH HIGH PRIDE OF OWNERSHIP THROUGHOUT PLUS AFFORDABLE MANDATORY HOA * 2020 NEUTRAL CARPET * 2020 ROOF * LARGE ROOMS THROUGHOUT WILL KEEP EVERYONE FROM BECOMING CRAMPED * MASTER BATH HAS JETTED GARDEN TUB AND SEPARATE SHOWER * REAR ENTRY GARAGE ADDS TO THE EXCLUSIVE FEEL OF THIS QUALITY HOME * DOWNSTAIRS STUDY WOULD MAKE A 5TH BEDROOM OR MOTHER-IN-LAW SUITE * UPSTAIRS LIVING AREA WOULD PROVIDE AMPLE SPACE AS A GAMEROOM FOR ALL AGES * ISLAND KITCHEN COMPLETE WITH BUILT-IN OVEN AND MICROWAVE

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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: Summer Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Summer Creek

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
Sue Crouch Intermediate School Primary Regular 501 27 5
Sue Crouch Intermediate School Middle Regular 501 27 5
North Crowley High School High Regular 2,442 148 4

Sue Crouch Intermediate School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 27
5
GreatSchools Rating

Sue Crouch Intermediate School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 27
5
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,254
Property Tax -$779
Property Insurance -$216
HOA -$13
Property Management Fees -$99
CASH FLOW
-$310

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.

$339,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.3%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,102

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,0004$2,0505$2,300
$2,300
RENT COMPS ANALYSIS
  • 5313 Summer Court Fort Worth, TX 4
    • 4 beds 3 baths ∙ 3,259 Sqft ∙ Built 1987 4 beds 3 baths ∙ 3,259 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.63
    •  
  • 7441 Grass Valley Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 2005
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.63
    •  
  • 8033 Pretoria Place Fort Worth, TX 2
    • 4 beds 4 baths ∙ 3,207 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,207 Sqft ∙ Built 2004
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.62
    •  
  • 4917 Sunset Ridge Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 3,112 Sqft ∙ Built 2003 4 beds 2 baths ∙ 3,112 Sqft ∙ Built 2003
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.64
    •  
  • 8204 Rain Dance Court Fort Worth, TX 5
    • 4 beds 3 baths ∙ 3,316 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,316 Sqft ∙ Built 1995
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.69
    •  
PROPERTY LISTING DETAILS
Charles Morgan
Re/max Associates 1
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472160
Last Updated: 11/17/2020
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