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5924 Paddlefish Drive Fort Worth, TX 76179

3 Beds 2 Baths 1,892 sqft Built 2014

$285,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $150.63
  • 5 Days on Market
  • MLS # : 14527460
  • Updated Date : 03/12/2021 at 08:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,892 sqft
  • Baths : 2 full
Listing Agent

The Property Shop

Listing Agent's Description

2014 Plantation Home in Marine Creek Ranch!! 3 bed 2 bath beautifully updated with an open floorpan perfect for entertaining. California kitchen, granite, 42 in cabinets, SS appliances, gas cooktop, art niches, ceramic tile, separate laundry, & Texas sized rear patio. Oversized master suite with his & her vanities, walk in shower, garden tub, and huge walk in closet. HOA amenities include pool, clubhouse, private lake area with dock, jogging trails, and within 1 mi of a public boat ramp for Marine Creek Lake. Walking distance to Ed Willkie Middle.

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

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.
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$990
Property Tax -$653
Property Insurance -$137
HOA -$30
Property Management Fees -$99
CASH FLOW
-$249

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.

$285,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.58%

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

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,656

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6504$1,6505$1,660
$1,660
RENT COMPS ANALYSIS
  • 5924 Paddlefish Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.88
    •  
  • 6068 Beachview Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2005
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 5800 Pearl Oyster Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2004
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 6144 Amberjack Trail Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2005
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 6036 Horse Trap Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2004
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Lisa Hawkins
The Property Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527460
Last Updated: 03/12/2021
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