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5660 Cherrywood Way Fort Worth, TX 76123

3 Beds 2 Baths 2,485 sqft Built 2021

$344,600

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $138.67
  • 3 Days on Market
  • MLS # : 14518020
  • Updated Date : 02/12/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,485 sqft
  • Baths : 2 full
Listing Agent

Toby Jones

Listing Agent's Description

NEW CONSTRUCTION - Pulte Homes at Sunset Pointe. Two-story Thomaston plan - Exterior D. 5BR-3BA with 2485 sf. Great upgrades include a covered patio, 42 inch upper cabinets in kitchen, silestone counters, kitchen island, and stainless Whirlpool appliances. Recessed can lights and 9' ceilings. AVAILABLE April-May 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

Zip Code: 76123

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76123

ZipNIR 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
Sue Crouch Intermediate School Primary Regular 501 27 5
Sue Crouch Intermediate School Middle Regular 501 27 5
North Crowley High School High Regular 2,442 148 4

Sue Crouch Intermediate School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 27
5
GreatSchools Rating

Sue Crouch Intermediate School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 27
5
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$310,140$379,060$344,600

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,197
Property Tax -$881
Property Insurance -$171
HOA -$43
Property Management Fees -$99
CASH FLOW
-$291

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$344,600

PROJECTED PRICE

$2,100

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 3.00%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$93,319

INVESTMENT

$93,319

Down Payment
$86,150
Rehab Estimate
$2,000
Closing Costs
$5,169

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,197

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,150
Loan Amount $258,450
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,137

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,1003$2,1504$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 5660 Cherrywood Way Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,485 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,485 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 5508 Meadow Valley Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,328 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,328 Sqft ∙ Built 2003
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
  • 8036 Branch Hollow Trail Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,506 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,506 Sqft ∙ Built 2012
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.86
    •  
  • 5817 Burgundy Rose Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2017
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 6409 Dove Chase Lane Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,515 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,515 Sqft ∙ Built 2019
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
PROPERTY LISTING DETAILS
Lee Jones
Toby Jones
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518020
Last Updated: 02/12/2021
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