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5417 Lake Front Drive Haltom City, TX 76137

4 Beds 2 Baths 2,461 sqft Built 2021

$394,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $160.46
  • 7 Days on Market
  • MLS # : 14501794
  • Updated Date : 01/21/2021 at 13:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,461 sqft
  • Baths : 2 full
Listing Agent

Key Trek-cc

Listing Agent's Description

High Pointe's natural ambiance provides a relaxed lifestyle while still convenient to shopping and dining! Expansive Buffalo Ridge Park offers 3 miles of trails to discover! Charming new home built by K. Hovnanian Homes features a wonderful great room with a corner fireplace and wall of windows. Entertain in the stylish kitchen with stainless appliances, granite counters & island with pendant lighting. Serene owner’s suite is enhanced by a spa bath with oversized shower and linen closet. Spacious quiet home office with double doors off foyer! Upgraded easy care vinyl plank flooring! Convenient HovHall with valet and oversized laundry near garage entrance. Smart home features! $24,400 in upgrades included!

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
Grace E. Hardeman Elementary School Primary Regular 748 44 8
Watauga Middle School Middle Regular 760 49 6
Haltom High School High Regular 2,581 162 4

Grace E. Hardeman Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 44
8
GreatSchools Rating

Watauga Middle School

  • Education Level: Middle
  • # of students: 760
  • # of teachers: 49
6
GreatSchools Rating

Haltom High School

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

$355,410$434,390$394,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,372
Property Tax -$875
Property Insurance -$169
HOA -$50
Property Management Fees -$99
CASH FLOW
-$575

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$394,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,649

INVESTMENT

$106,649

Down Payment
$98,725
Rehab Estimate
$2,000
Closing Costs
$5,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,725
Loan Amount $296,175
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$11

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,264

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,2003$2,4004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 5417 Lake Front Drive Haltom City, TX 1
    • 4 beds 2 baths ∙ 2,461 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,461 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.81
    •  
  • 4029 Esker Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2019
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 5829 Tuleys Creek Drive Fort Worth, TX 3
    • 4 beds 4 baths ∙ 2,709 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,709 Sqft ∙ Built 2012
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
  • 5804 Stonefield Lane Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,512 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,512 Sqft ∙ Built 2019
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 5840 Tuleys Creek Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2009
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
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 #: 14501794
Last Updated: 01/21/2021
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