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5857 Bindweed Street Fort Worth, TX 76123

4 Beds 3 Baths 2,204 sqft Built 2015

$265,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $120.24
  • 7 Days on Market
  • MLS # : 14494730
  • Updated Date : 01/14/2021 at 11:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,204 sqft
  • Baths : 3 full
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. This beautiful home sits on a spacious alley access lot in a quiet countryside subdivision close to parks, schools, and Benbrook Lake. The impressive foyer showcases Luxury Vinyl Plank that carries throughout the main level. Vaulted ceilings with crown molding and open concept with generous room sizes. The living room is open to the upgraded kitchen that features all stainless steel appliances including a fridge, granite counters with a breakfast bar, and backsplash. The luxurious master suite and a guest bedroom are on the main level. 5 -piece master bath with a walk-in closet. A family room is on the upper level. Clean and ready to call home.

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: Primrose Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Primrose Crossing

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
Sue Crouch Intermediate School Primary Regular 501 27 5
Sue Crouch Intermediate School Middle Regular 501 27 5
North Crowley High School High Regular 2,442 148 4

Sue Crouch Intermediate School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 27
5
GreatSchools Rating

Sue Crouch Intermediate School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 27
5
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$920
Property Tax -$607
Property Insurance -$155
HOA -$30
Property Management Fees -$99
CASH FLOW
$189

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.

$265,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,286

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,962

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$2,0003$2,0004$2,0955$2,200
$2,200
RENT COMPS ANALYSIS
  • 5857 Bindweed Street Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 9324 Horsemanship Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 2017
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.86
    •  
  • 6548 Longhorn Herd Lane Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,242 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,242 Sqft ∙ Built 2017
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 5840 Dew Plant Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 2018
    property image
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 5821 Bindweed Street Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2016
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Alexandra Clement
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494730
Last Updated: 01/14/2021
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