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5316 Costa Mesa Drive Fort Worth, TX 76244

4 Beds 3 Baths 2,754 sqft Built 2001

INVESTimate

$265,000

List Price

$1,910

$1,719 - $2,101

Rent Est.

$293,620  ( +10.80%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $96.22
  • 6 Days on Market
  • MLS # : 14409115
  • Updated Date : 08/22/2020 at 13:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,754 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Real Estate

Listing Agent's Description

Adorably updated home in the Villages at Heritage! This home has been well maintained and simply loved. Family is moving one neighborhood over to stay in the AMAZING KISD. Great home with 2 living spaces and all common areas downstairs with all bedrooms upstairs. One owner home within walking distance to elementary and high schools. Upon entry you will find the formal living and dining, a half bath downstairs for guests and an additional living open to the kitchen. This home has it all and priced to sell.

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

Neighborhood: The Vineyards at Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: The Vineyards at Heritage

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
Parkwood Hill Intermediate School Primary Regular 1,070 57 8
Hillwood Middle School Middle Regular 1,087 65 8
Central High School High Regular 2,573 140 8

Parkwood Hill Intermediate School

  • Education Level: Primary
  • # of students: 1,070
  • # of teachers: 57
8
GreatSchools Rating

Hillwood Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 65
8
GreatSchools Rating

Central High School

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

$238,500$291,500$265,000

PURCHASE PRICE

$1,719$2,101$1,910

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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 $1,910
EXPENSES Loan Payment -$978
Property Tax -$607
Property Insurance -$186
Property Management Fees -$99
CASH FLOW
$39

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.

$265,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.80%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$16,599

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,907

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8504$1,8955$1,910
$1,910
RENT COMPS ANALYSIS
  • 5316 Costa Mesa Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.69
    •  
  • 9048 Fremont Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 9000 Fremont Trail Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 9120 Saratoga Road Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2001
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 9037 Napa Valley Trail Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
PROPERTY LISTING DETAILS
Kelli Todd
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14409115
Last Updated: 08/22/2020
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