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5501 Spring Ridge Drive Watauga, TX 76137

4 Beds 2 Baths 1,945 sqft Built 2002

$255,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $131.11
  • 2 Days on Market
  • MLS # : 14499937
  • Updated Date : 01/16/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,945 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

ADORABLE home on oversized culdesac lot. 4 bed or flex study space plus 2 bath. Open & bright layout completely updated including new roof summer 2020. Kitchen with granite counters, island & plenty of counter space. 2 large living rooms & 2 dining areas perfect for entertaining & a growing family. Updated paint, newer carpet and flooring throughout. Spacious bathrooms nicely updated with granite. Oversized back patio with GORGEOUS flagstone, cedar that extends length of the house, lighting & ceiling fan. Enjoy oversized backyard with newer double slatted wood fence 2016, Newer 4 ton 14 seer AC with heat pump, upgraded 5 ton air handler. Newer hot water heater 2015. Don't miss out!

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

Zip Code: 76137

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $87k243k

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

Zip Code: 76137

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9771734

* 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$886
Property Tax -$563
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
$93

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.70%

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) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$18,111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,765

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7504$1,7805$1,850
$1,850
RENT COMPS ANALYSIS
  • 5501 Spring Ridge Drive Watauga, TX 4
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.92
    •  
  • 5561 Spring Ridge Drive Watauga, TX 1
    • 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2002
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 5552 Spring Ridge Drive Watauga, TX 2
    • 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2002
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 5404 Caribou Ridge Drive Watauga, TX 3
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 2000
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 5332 Stillwater Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1997
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
PROPERTY LISTING DETAILS
Felicia Johnson
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499937
Last Updated: 01/16/2021
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