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5724 Redgum Drive Fort Worth, TX 76244

4 Beds 2 Baths 2,626 sqft Built 2005

$350,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $133.28
  • 3 Days on Market
  • MLS # : 14480538
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,626 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Open House December, 5th from 12-3. GORGEOUS 4 bedroom 2 bath home in highly sought after Villages of Woodland Springs and Keller ISD! Home features an updated gourmet kitchen with granite, stainless steel appliances, and island. This open floor plan concept with wood floors is perfect for entertaining. Home has new carpet, a third car garage, and a 4th bedroom that can be used as an office to fit your needs. Large master suite offers double vanities, separate tub and shower, walk in closet, and is split from secondary bedrooms. The backyard has covered patio and is big enough to build a pool. Great location within a cul-de-sac! Close to shopping, entertainment, and dining. A must see before it’s too late!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Villages of Woodland Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Villages of Woodland Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Trinity Meadows Intermediate School Primary Regular 988 58 7
Trinity Springs Middle School Middle Regular 1,061 62 8
Timbercreek High School High Regular 2,957 160 8

Trinity Meadows Intermediate School

  • Education Level: Primary
  • # of students: 988
  • # of teachers: 58
7
GreatSchools Rating

Trinity Springs Middle School

  • Education Level: Middle
  • # of students: 1,061
  • # of teachers: 62
8
GreatSchools Rating

Timbercreek High School

  • Education Level: High
  • # of students: 2,957
  • # of teachers: 160
8
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,291
Property Tax -$802
Property Insurance -$179
HOA -$46
Property Management Fees -$99
CASH FLOW
-$217

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.

$350,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,956

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9954$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 5724 Redgum Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,626 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,626 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 12608 Mourning Dove Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 2007
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 5205 Rush Creek Court Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 2002
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 4617 Pangolin Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 2007
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 5320 Bellis Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 2001
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.76
    •  
PROPERTY LISTING DETAILS
Tony Green
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480538
Last Updated: 12/04/2020
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