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5528 Fletcher Avenue Fort Worth, TX 76107

3 Beds 2 Baths 1,487 sqft Built 2018

$205,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $137.86
  • 6 Days on Market
  • MLS # : 14491382
  • Updated Date : 12/29/2020 at 09:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,487 sqft
  • Baths : 2 full
Listing Agent

Wilco, Realtors

Listing Agent's Description

Better than New! This open concept home, built in 2018, has everything you expect and MORE in a new home, without all the kinks of brand new construction. Oversized covered front porch welcomes you. Wood laminate in entryway extends through 20x14 living area. Easily entertain guests while preparing meals in your kitchen featuring granite counters, lots of cabinetry, walk-in pantry and SS appliances. Master boasts spacious bath with walk-in closet amply sized for two! High-end finishes throughout! Como Elementary was recently featured on the Ellen Degeneres Show! One block from Rivertree Academy too. Super convenient & centrally located in the heart of West Fort Worth in an Up-and-Coming neighborhood!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Como

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $52k243k

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

Neighborhood: Como

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5201734

* 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
Como Elementary School Primary Regular 485 25 4
William Monnig Middle School Middle Regular 490 37 2
Arlington Heights High School High Regular 1,831 114 4

Como Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 25
4
GreatSchools Rating

William Monnig Middle School

  • Education Level: Middle
  • # of students: 490
  • # of teachers: 37
2
GreatSchools Rating

Arlington Heights High School

  • Education Level: High
  • # of students: 1,831
  • # of teachers: 114
4
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$756
Property Tax -$470
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
$42

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.

$205,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$13,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,625

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5503$1,6504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 5528 Fletcher Avenue Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.00
    •  
  • 5320 Fernander Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 2019
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.18
    •  
  • 5706 Kilpatrick Avenue Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 2016
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 5721 Geddes Avenue Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2019
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
  • 5315 Wellesley Avenue Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2020
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.09
    •  
PROPERTY LISTING DETAILS
Kerri Rehmeyer
Wilco, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491382
Last Updated: 12/29/2020
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