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

5616 Wills Creek Lane Fort Worth, TX 76179

5 Beds 4 Baths 3,862 sqft Built 2008

$415,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $107.46
  • 1 Days on Market
  • MLS # : 14474826
  • Updated Date : 11/22/2020 at 00:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,862 sqft
  • Baths : 4 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

STUNNING home complete with a backyard paradise! Get ready to slide into your heated, sparkling saltwater pool and spa. Imagine entertaining your guests on this large covered patio, cooking in your outdoor kitchen while listening to music on the indoor and outdoor surround sound. This home has it ALL. Tons of upgrades, spacious open living areas, vaulted ceilings, a large master suite overlooking the pool, and your own movie theatre. All built-in cabinets and shelving will stay in the garage, pool vacuum stays, kitchen fridge stays, projector and screen will stay in the media room. Media speakers and media furniture are negotiable.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Marine Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k269k

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

Neighborhood: Marine Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191828

* 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
Ed Willkie Middle School Middle Regular 862 53 5

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,531
Property Tax -$951
Property Insurance -$250
HOA -$30
Property Management Fees -$99
CASH FLOW
-$282

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.

$415,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.6%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,725

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,111

    COMP ESTIMATED VALUE
  • $0.55

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8753$2,3954$2,580
$2,580
RENT COMPS ANALYSIS
  • 5616 Wills Creek Lane Fort Worth, TX 4
    • 5 beds 4 baths ∙ 3,862 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,862 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.67
    •  
  • 5129 Weather Rock Lane Fort Worth, TX 1
    • 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.49
    •  
  • 6205 Winnebago Court Fort Worth, TX 2
    • 4 beds 3 baths ∙ 3,535 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,535 Sqft ∙ Built 2005
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.53
    •  
  • 6204 El Capitan Street Fort Worth, TX 3
    • 5 beds 4 baths ∙ 3,873 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,873 Sqft ∙ Built 2013
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.62
    •  
PROPERTY LISTING DETAILS
Molly Sutterfield
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474826
Last Updated: 11/22/2020
BESbswy