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5864 Seahorse Cove Fort Worth, TX 76179

3 Beds 2 Baths 2,039 sqft Built 2004

INVESTimate

$249,900

List Price

$1,780

$1,602 - $1,958

Rent Est.

$263,969  ( +5.63%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $122.56
  • 4 Days on Market
  • MLS # : 14419217
  • Updated Date : 08/23/2020 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,039 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

Beautifully updated 3 bedroom, 2 bathroom home with living room, dining room & den plus bonus room off of the master bedroom. Fresh paint, faux wood blinds, wood-burning fireplace with gas starter & wood mantel, wood fence, 2 car garage, pre-wired surround sound with flush mount speakers. Gorgeously renovated kitchen with granite counter tops, custom back splash, stainless steel appliances & built-in wine refrigerator. Spacious master bathroom with tile walk-in shower. Large backyard with a leaseback on greenbelt which makes the property approximately 0.25 acres! This home already has all the bells & whistles - it just needs YOU!

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$922
Property Tax -$573
Property Insurance -$145
HOA -$30
Property Management Fees -$99
CASH FLOW
$11

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.

$249,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.71%

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,572

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,769

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7804$1,8005$1,895
$1,895
RENT COMPS ANALYSIS
  • 5864 Seahorse Cove Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.87
    •  
  • 5832 Barrier Reef Drive Fort Worth, TX 1
    • 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
    •  
  • 5841 Barrier Reef Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 5709 Piedra Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2005
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 6121 Paddlefish Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2006
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
PROPERTY LISTING DETAILS
Daniel Murphy
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419217
Last Updated: 08/23/2020
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