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5900 Paddlefish Drive Fort Worth, TX 76179

4 Beds 3 Baths 2,614 sqft Built 2014

$280,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $107.12
  • 7 Days on Market
  • MLS # : 14461536
  • Updated Date : 10/28/2020 at 18:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,614 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

This one owner home in highly sought out Marine Creek Ranch is everything you've been looking for. This home features four bedrooms, two and a half baths along with an eat in kitchen, formal dining room, office and game room. The large kitchen features gas stove, granite countertops with an island along with upgraded 42 inch cabinets are just a few of the upgrades this home has to offer. The backyard has an extended covered patio with a shed in the back. Large corner lot with lovely new stained fence. This home has been loved and very well maintained. Schedule your showing today to make this amazing home yours.

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

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$252,000$308,000$280,000

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 -$1,033
Property Tax -$642
Property Insurance -$178
HOA -$30
Property Management Fees -$99
CASH FLOW
-$132

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.

$280,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,149

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
  • $0.71

    LIST RENT PER SQFT
  • $1,915

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8504$1,8605$2,150
$2,150
RENT COMPS ANALYSIS
  • 5900 Paddlefish Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 5605 Blanca Court Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2004
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 6100 Horse Trap Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2005
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 6260 Jasper Lake Drive Fort Worth, TX 4
    • 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 2018
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.72
    •  
  • 5744 Spirit Lake Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2013
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.78
    •  
PROPERTY LISTING DETAILS
Kelly Snodgrass
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461536
Last Updated: 10/28/2020
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