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5770 Fall Creek Drive Haltom City, TX 76137

3 Beds 3 Baths 2,420 sqft Built 1998

$319,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $132.19
  • 2 Days on Market
  • MLS # : 14525443
  • Updated Date : 03/07/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,420 sqft
  • Baths : 2 full , 1 half
Listing Agent

Veteran Realty Group

Listing Agent's Description

This Beautiful home has a wonderful floorplan with 3 bedrooms plus an office that could also be used as a 4th bedroom. The cozy upstairs loft makes a great second living area or game room. This home features granite kitchen counter tops as well as granite bathroom vanities, frameless shower door, updated lighting fixtures, large walk in master closet, stainless steel appliances, wood floors. The backyard is a TRANQUIL PARADISE with a large built in deck over looking the natural beauty of Buffalo Ridge Park. This home is a must see! OPEN HOUSE, Sunday, March 7th, 1-3

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: Fossil Beach

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $76k336k

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

Neighborhood: Fossil Beach

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800190020002100Rent in $7062171

* 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
Parkview Elementary School Primary Regular 669 48 5
North Oaks Middle School Middle Unknown NA
Fossil Ridge High School High Regular 2,308 133 7

Parkview Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 48
5
GreatSchools Rating

North Oaks Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Fossil Ridge High School

  • Education Level: High
  • # of students: 2,308
  • # of teachers: 133
7
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,111
Property Tax -$720
Property Insurance -$167
Property Management Fees -$99
CASH FLOW
-$247

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.

$319,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 11.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,882

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,8504$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 5770 Fall Creek Drive Haltom City, TX 3
    • 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 4824 Ashton Avenue Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 1989
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 5825 Clear Creek Drive Haltom City, TX 2
    • 4 beds 2 baths ∙ 2,404 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,404 Sqft ∙ Built 1997
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 5277 Chessie Circle Haltom City, TX 4
    • 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 1999
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.77
    •  
  • 4270 Lake Villas Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 1999
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jacob Ascher
Veteran Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525443
Last Updated: 03/07/2021
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