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5817 Sea Bass Drive Fort Worth, TX 76179

3 Beds 2 Baths 1,910 sqft Built 2004

INVESTimate

$230,000

List Price

$1,710

$1,539 - $1,881

Rent Est.

$242,949  ( +5.63%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $120.42
  • 7 Days on Market
  • MLS # : 14417568
  • Updated Date : 08/24/2020 at 11:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,910 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Beautiful home in Marine Creek Ranch. Lots of light and a great open floor plan. Perfect entertaining kitchen that looks onto the living room and dining area. Gas fireplace, formal dining room that can be used as an office or den. Split bedrooms, large master bathroom with dual sinks and large walk-in closet. Close to Lockheed, TCC, 820 and the 35. Walking distance to Elementary and Middle Schools.

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: 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$849
Property Tax -$527
Property Insurance -$138
HOA -$30
Property Management Fees -$99
CASH FLOW
$68

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.

$230,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.63%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6504$1,6955$1,710
$1,710
RENT COMPS ANALYSIS
  • 5817 Sea Bass Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.90
    •  
  • 5821 Water Ridge Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2009
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 5800 Pearl Oyster Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2004
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 6036 Horse Trap Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2004
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 5832 Barrier Reef Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2005
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
PROPERTY LISTING DETAILS
Araceli Mercado
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417568
Last Updated: 08/24/2020
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