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5808 Westgate Drive Fort Worth, TX 76179

4 Beds 3 Baths 3,256 sqft Built 2005

$350,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $107.49
  • 2 Days on Market
  • MLS # : 14489094
  • Updated Date : 01/08/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,256 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Property Shop

Listing Agent's Description

Move in Ready Home in Marine Creek Ranch with a DIVING SALTWATER POOL!! 4 bed + office, 2.5 bath, 2 living areas, 2 dining areas. Walking distance to elementary school! Recent updates include HVAC, dishwasher, stove, microwave, refrigerator, water heater, 8' fence, security cameras, extended patio, can lighting throughout, granite countertops, ceiling fans, solar screens, laminate and tile flooring throughout. HOA amenities include pool, clubhouse, jogging trails, playground. Near shopping, eating, downtown Ft. Worth, NASJRB. and BNSF.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Greenfield Elementary School Primary Regular 754 38 8
Ed Willkie Middle School Middle Regular 862 53 5

Greenfield Elementary School

  • Education Level: Primary
  • # of students: 754
  • # of teachers: 38
8
GreatSchools Rating

Ed Willkie Middle School

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

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

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,216
Property Tax -$802
Property Insurance -$215
HOA -$30
Property Management Fees -$99
CASH FLOW
-$242

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.

$350,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,160

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,045
1$2,0452$2,1203$2,1504$2,200
$2,200
RENT COMPS ANALYSIS
  • 5808 Westgate Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 3,256 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,256 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.65
    •  
  • 6152 Redear Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 2005
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.64
    •  
  • 6672 Cascade Canyon Trail Fort Worth, TX 3
    • 5 beds 5 baths ∙ 3,189 Sqft ∙ Built 2006 5 beds 5 baths ∙ 3,189 Sqft ∙ Built 2006
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.67
    •  
  • 5864 Lamb Creek Drive Fort Worth, TX 4
    • 4 beds 4 baths ∙ 3,241 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,241 Sqft ∙ Built 2009
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.68
    •  
PROPERTY LISTING DETAILS
Lisa Hawkins
The Property Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489094
Last Updated: 01/08/2021
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