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5909 Missy Lane Fort Worth, TX 76131

3 Beds 2 Baths 1,344 sqft Built 2008

$223,500

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $166.29
  • 3 Days on Market
  • MLS # : 14527175
  • Updated Date : 03/05/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent

Avignon Realty

Listing Agent's Description

Fantastic home well maintained located on a nicely landscaped , beautiful kitchen with back splash, spacious living room, laminated wood in living room, and carpet in the bedrooms.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Northbrook

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $103k243k

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

Neighborhood: Northbrook

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
Gililland Elementary School Primary Regular 635 36 3
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

Gililland Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 36
3
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$201,150$245,850$223,500

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$776
Property Tax -$512
Property Insurance -$105
HOA -$36
Property Management Fees -$99
CASH FLOW
-$128

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.

$223,500

PROJECTED PRICE

$1,400

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.1%
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

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$64,978

INVESTMENT

$64,978

Down Payment
$55,875
Rehab Estimate
$5,750
Closing Costs
$3,353

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$776

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,875
Loan Amount $167,625
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,287

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5004$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 5909 Missy Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 1764 Independence Road Blue Mound, TX 2
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 2312 Priscella Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2008
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 2612 Evening Shade Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2004
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
  • 1845 Capulin Road Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2013
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Andrew Nguyen
Avignon Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527175
Last Updated: 03/05/2021
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