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536 Merton Court Fort Worth, TX 76036

3 Beds 2 Baths 1,859 sqft Built 2002

$205,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $110.27
  • 2 Days on Market
  • MLS # : 14503679
  • Updated Date : 01/23/2021 at 16:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full
Listing Agent

Perla Realty Group, Llc

Listing Agent's Description

Lovely well cared for home features 3 bedrooms, 2 full baths, large living area with a wood burning fireplace, formal dining room, spacious master suite with double sinks and a large walk in closet. Beautiful eat in kitchen with large pantry and an abundance of cabinet and counter space. Located in sought after Crowley ISD, Coventry addition in a cul-de-sac, near shopping and restaurants! Will include refrigerator, stove, washer and dryer. MULTIPLE OFFERS received, please submit offers by 7PM Sunday 01.24.2021

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: Coventry

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Coventry

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Sidney H. Poynter Elementary School Primary Regular 532 32 3
H.f. Stevens Middle School Middle Regular 912 59 3
Crowley High School High Regular 2,033 150 4

Sidney H. Poynter Elementary School

  • Education Level: Primary
  • # of students: 532
  • # of teachers: 32
3
GreatSchools Rating

H.f. Stevens Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 59
3
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$712
Property Tax -$470
Property Insurance -$135
HOA -$40
Property Management Fees -$99
CASH FLOW
$194

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.

$205,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$23,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,6004$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 536 Merton Court Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 524 Magdalen Avenue Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2002
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 149 Lincoln Lane Crowley, TX 2
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2002
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 540 Keble Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2003
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 525 Nuffield Lane Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
PROPERTY LISTING DETAILS
Elizabeth Olivas
Perla Realty Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503679
Last Updated: 01/23/2021
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