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5532 Chimney Rock Road Fort Worth, TX 76112

4 Beds 3 Baths 2,022 sqft Built 2007

$265,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $131.06
  • 4 Days on Market
  • MLS # : 14466571
  • Updated Date : 11/07/2020 at 16:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,022 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Beautiful four bedroom home on a huge corner lot in the established neighborhood of Meadowbrook Hills. Built in 2007 this home features an open floor plan, new paint and flooring in bedrooms, stainless steel appliances, and a stunning fireplace in the living room. Great updates throughout the home which include a whole house water softener system and under sink reverse osmosis system. Located close to highways with quick access to both Ft. Worth and Dallas.

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: Meadowbrook Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Meadowbrook Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Eastern Hills Elementary School Primary Regular 644 38 4
Meadowbrook Middle School Middle Regular 584 45 4
Eastern Hills High School High Regular 1,215 96 2

Eastern Hills Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 38
4
GreatSchools Rating

Meadowbrook Middle School

  • Education Level: Middle
  • # of students: 584
  • # of teachers: 45
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$978
Property Tax -$607
Property Insurance -$144
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.

$265,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.71%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$16,523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6253$1,6504$1,6955$1,870
$1,870
RENT COMPS ANALYSIS
  • 5532 Chimney Rock Road Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.92
    •  
  • 6800 Terbet Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2005
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.87
    •  
  • 1808 Lynnwood Hills Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 2010
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.96
    •  
  • 305 Willow Oak Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1998
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 816 Lombardy Court Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jonathan Jenkins
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466571
Last Updated: 11/07/2020
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