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5409 High Pointe Drive Haltom City, TX 76137

5 Beds 3 Baths 3,034 sqft Built 2020

$399,900

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $131.81
  • 4 Days on Market
  • MLS # : 14480837
  • Updated Date : 12/03/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,034 sqft
  • Baths : 3 full
Listing Agent

Key Trek-cc

Listing Agent's Description

Enjoy easy access to expansive Buffalo Ridge Park with 3 miles of trails to discover! High Pointe focuses on natural ambiance & provides a relaxed lifestyle while still convenient to shopping and dining! Stunning multi-generational home by K. Hovnanian Homes features a great room with a wall of windows and access to a covered patio. Stylish kitchen with stainless appliances, granite counters & pendant lighting at island - perfect for gatherings! Serene owner’s suite offers a spa bath with oversized shower. Private home office at foyer for business needs! Wonderful gameroom and fun media room for entertaining! Smart home features! $24,900 in upgrades included!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Fossil

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $76k243k

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

Neighborhood: Fossil

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7061942

* 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
John D. Spicer Elementary School Primary Regular 646 39 6
North Oaks Middle School Middle Regular 580 43 5
Haltom High School High Regular 2,581 162 4

John D. Spicer Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 39
6
GreatSchools Rating

North Oaks Middle School

  • Education Level: Middle
  • # of students: 580
  • # of teachers: 43
5
GreatSchools Rating

Haltom High School

  • Education Level: High
  • # of students: 2,581
  • # of teachers: 162
4
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,475
Property Tax -$969
Property Insurance -$203
HOA -$50
Property Management Fees -$99
CASH FLOW
-$666

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$399,900

PROJECTED PRICE

$2,130

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,974

INVESTMENT

$107,974

Down Payment
$99,975
Rehab Estimate
$2,000
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,083

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,785
1$1,7852$1,9953$2,1304$2,150
$2,150
RENT COMPS ANALYSIS
  • 5409 High Pointe Drive Haltom City, TX 3
    • 5 beds 3 baths ∙ 3,034 Sqft ∙ Built 2020 5 beds 3 baths ∙ 3,034 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.70
    •  
  • 5356 Ridge View Drive Watauga, TX 1
    • 4 beds 2 baths ∙ 2,698 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,698 Sqft ∙ Built 2000
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.66
    •  
  • 5705 Frio Drive Haltom City, TX 2
    • 5 beds 3 baths ∙ 2,685 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,685 Sqft ∙ Built 2000
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 3836 Weatherstone Drive Fort Worth, TX 4
    • 4 beds 4 baths ∙ 3,268 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,268 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.66
    •  
PROPERTY LISTING DETAILS
Teri Walter
Key Trek-cc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480837
Last Updated: 12/03/2020
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