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5408 Mormon Trail Fort Worth, TX 76137

3 Beds 2 Baths 2,141 sqft Built 1990

INVESTimate

$264,999

List Price

$1,760

$1,584 - $1,936

Rent Est.

$287,312  ( +8.42%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $123.77
  • 10 Days on Market
  • MLS # : 14413848
  • Updated Date : 08/19/2020 at 14:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,141 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

Newly updated 3 bd 1 story home boasting high ceilings, lots of natural light, and neutral colors. New carpet, tile, and paint throughout. Cozy fireplace in living area. Master bedroom features dual vanities and garden tub plus separate closets. Exemplary schools in Keller ISD. Close to big mall, parks and shopping.

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
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
 

$238,499$291,499$264,999

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$978
Property Tax -$607
Property Insurance -$151
HOA -$6
Property Management Fees -$99
CASH FLOW
-$81

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.

$264,999

PROJECTED PRICE

$1,760

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.42%
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 65% 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 $198,749
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7254$1,7605$1,845
$1,845
RENT COMPS ANALYSIS
  • 5408 Mormon Trail Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.82
    •  
  • 4748 N Cascades Street Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,097 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,097 Sqft ∙ Built 1992
    property image
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 5017 Glenscape Trail Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2000
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 5333 Grand Mesa Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 1989
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.82
    •  
  • 5433 Lake Powell Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1995
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cheza Rask
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413848
Last Updated: 08/19/2020
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