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5700 Lake Jackson Drive Fort Worth, TX 76126

4 Beds 4 Baths 2,916 sqft Built 2020

$510,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $175.21
  • 6 Days on Market
  • MLS # : 14489940
  • Updated Date : 12/22/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,916 sqft
  • Baths : 3 full , 1 half
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Corner homesite. Extended entry with 12-foot ceiling leads to open family room, kitchen and dining room. Family room features 12-foot ceiling, a wood mantel fireplace and wall of windows. Kitchen features generous counter space, walk-in pantry and island with built-in seating space. Game room with French doors just off family room. Primary suite includes bedroom with 13-foot ceiling and wall of windows. Dual vanities, garden tub, separate glass-enclosed shower and two walk-in closets in primary bath. A Hollywood bath adds to this four-bedroom home. Covered backyard patio. Mud room off three-car garage.

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: Wedgwood Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $87k243k

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

Neighborhood: Wedgwood Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8621734

* 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
Bruce Shulkey Elementary School Primary Regular 530 32 4
Wedgwood Middle School Middle Regular 931 54 4
Southwest High School High Regular 1,266 97 3

Bruce Shulkey Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 32
4
GreatSchools Rating

Wedgwood Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 54
4
GreatSchools Rating

Southwest High School

  • Education Level: High
  • # of students: 1,266
  • # of teachers: 97
3
GreatSchools Rating
 

$459,810$561,990$510,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,885
Property Tax -$1,171
Property Insurance -$196
HOA -$70
Property Management Fees -$99
CASH FLOW
-$1,491

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$510,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.8%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,389

INVESTMENT

$137,389

Down Payment
$127,725
Rehab Estimate
$2,000
Closing Costs
$7,664

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,725
Loan Amount $383,175
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$4,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,260

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,930
1$1,9302$2,0453$2,250
$2,250
RENT COMPS ANALYSIS
  • 5700 Lake Jackson Drive Fort Worth, TX 1
    • 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.66
    •  
  • 10401 Barber Lane Benbrook, TX 2
    • 5 beds 3 baths ∙ 2,822 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,822 Sqft ∙ Built 2005
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.72
    •  
  • 7213 Tour Trail Benbrook, TX 3
    • 3 beds 2 baths ∙ 2,700 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,700 Sqft ∙ Built 2016
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
PROPERTY LISTING DETAILS
Larry Delzell
Britton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489940
Last Updated: 12/22/2020
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