Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5432 Stonelake Drive Haltom City, TX 76137

4 Beds 3 Baths 2,733 sqft Built 2020

INVESTimate

$380,765

List Price

$2,130

$1,917 - $2,343

Rent Est.

$417,166  ( +9.56%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $139.32
  • 7 Days on Market
  • MLS # : 14417817
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,733 sqft
  • Baths : 3 full
Listing Agent

David M. Weekley

Listing Agent's Description

NEW DAVID WEEKLEY HOME! The Heritage open floor plan is a home owner's dream! Cook up something delicious in this spacious kitchen, featuring a corner pantry, island, 5 burner cooktop with stacked oven and microwave,. The owner's suite is an inviting escape and includes a luxury bathroom and a deluxe walk in closet. Each of the extra bedrooms provide a beautiful space with wide closets. The bonus garage area offers a variety of practical and recreational opportunities. Your covered patio is the ultimate outdoor gathering place. Ask about our 1-2-10 Year Warranty and SAVE BIG with our Energy Saver Program!

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: 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
 

$342,689$418,842$380,765

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,405
Property Tax -$923
Property Insurance -$185
HOA -$53
Property Management Fees -$99
CASH FLOW
-$534

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.

$380,765

PROJECTED PRICE

$2,130

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.56%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,903

INVESTMENT

$102,903

Down Payment
$95,191
Rehab Estimate
$2,000
Closing Costs
$5,711

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,405

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,191
Loan Amount $285,574
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$28

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
  • $0.78

    LIST RENT PER SQFT
  • $2,132

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$1,9954$2,1305$2,400
$2,400
RENT COMPS ANALYSIS
  • 5432 Stonelake Drive Haltom City, TX 4
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.78
    •  
  • 5776 Gleneagles Circle Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2001
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.74
    •  
  • 5704 San Felipe Drive Haltom City, TX 2
    • 4 beds 2 baths ∙ 2,659 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,659 Sqft ∙ Built 2000
    property image
    LEASED 03/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 5705 Frio Drive Haltom City, TX 3
    • 5 beds 3 baths ∙ 2,685 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,685 Sqft ∙ Built 2000
    property image
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 5829 Tuleys Creek Drive Fort Worth, TX 5
    • 4 beds 4 baths ∙ 2,709 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,709 Sqft ∙ Built 2012
    property image
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417817
Last Updated: 08/21/2020
BESbswy