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5908 Stirrup Iron Drive Fort Worth, TX 76179

3 Beds 2 Baths 1,668 sqft Built 2007

$235,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $140.89
  • 2 Days on Market
  • MLS # : 14491461
  • Updated Date : 01/09/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,668 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Sharp & sassy! Voluminous rooms compliment a delightful, open-flowing floorplan for today's busy lifestyle. It's perfect for having fun with the family & entertaining. Traditional corner fireplace creates dimension & interest. The centerpiece of the home is the roomy kitchen with just-installed granite countertops & appliances. Especially impressive is the total update on this home. Get your pen so you can check off your list: fresh exterior & interior paint, never-before-lived-on wood style flooring & carpet, newly installed fixtures, & more. Split primary bedroom features spa-inspired bath with separate tub & shower. Delightful back yard boasts of covered patio & storage shed. All you need to do is move in.

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: Remington Point

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Remington Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Remington Point Elementary School Primary Regular 637 37 5
Ed Willkie Middle School Middle Regular 862 53 5

Remington Point Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
5
GreatSchools Rating

Ed Willkie Middle School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$816
Property Tax -$539
Property Insurance -$124
HOA -$28
Property Management Fees -$99
CASH FLOW
-$35

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.

$235,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,576

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5503$1,5704$1,6455$1,695
$1,695
RENT COMPS ANALYSIS
  • 5908 Stirrup Iron Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.94
    •  
  • 900 Jockey Club Lane Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 2001
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.91
    •  
  • 5924 Bridal Trail Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2003
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 849 Fox Hunt Trail Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2002
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.95
    •  
  • 6028 Saddle Flap Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2011
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
PROPERTY LISTING DETAILS
Holly Koester
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491461
Last Updated: 01/09/2021
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