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

5601 Starwood Court Fort Worth, TX 76137

3 Beds 2 Baths 1,994 sqft Built 2005

$249,990

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $125.37
  • 6 Days on Market
  • MLS # : 14460750
  • Updated Date : 10/29/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,994 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

Wonderful investment home on corner lot awaits ! Lovely 3 bedroom 2 bath home with study in Basswood Park in cute cul de sac ! You will adore this open concept floor plan perfect for entertaining! Spacious kitchen with plenty of nice cabinets and counter space.! Beautiful engineered harwoods in living area with decorative fireplace! Master suite has dual sinks, separate shower and relaxing garden tub! For those with Kiddos, you will love the bus pickup for elementary and middle school that is located right at the corner! You will also appreciate being minutes from 35 and close to lots of shopping, dining and entertainment! Step outside to a nice covered patio! Tenant occupied till 1-31-2021

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: Basswood Park

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Basswood Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191735

* 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
 

$224,991$274,989$249,990

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$922
Property Tax -$573
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
-$107

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.

$249,990

PROJECTED PRICE

$1,630

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$71,997

INVESTMENT

$71,997

Down Payment
$62,498
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,498
Loan Amount $187,493
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,710

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6303$1,6504$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 5601 Starwood Court Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.82
    •  
  • 7224 Lindentree Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2005
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 5561 Spring Ridge Drive Watauga, TX 3
    • 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2002
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 7133 Starwood Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2005
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 5333 Grand Mesa Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 1989
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.82
    •  
PROPERTY LISTING DETAILS
Elizabeth Rockett
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460750
Last Updated: 10/29/2020
BESbswy