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5933 Goodman Avenue Fort Worth, TX 76107

3 Beds 2 Baths 1,601 sqft Built 2020

$264,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $165.46
  • 4 Days on Market
  • MLS # : 14486659
  • Updated Date : 12/24/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,601 sqft
  • Baths : 2 full
Listing Agent

Carlene Thomas King

Listing Agent's Description

This gorgeous single-story home is located one block from Montessori and elementary schools. Easy access to both I30 and I20, shopping and city parks. This home offers 1600 sq ft of living space with 3 bedrooms, 2 full baths and 2-car garage! Gourmet kitchen boasts granite counter tops, breakfast bar which overlooks the family room, breakfast nook. Master suite located at the rear of the home for added privacy. Feature 2 walk-in closets. Extended covered patio in back! Buyer or agent to verify all information. ****Photos are representative samples of finished home

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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: Como

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $52k243k

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

Neighborhood: Como

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5201734

* 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
Como Elementary School Primary Regular 485 25 4
William Monnig Middle School Middle Regular 490 37 2
Arlington Heights High School High Regular 1,831 114 4

Como Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 25
4
GreatSchools Rating

William Monnig Middle School

  • Education Level: Middle
  • # of students: 490
  • # of teachers: 37
2
GreatSchools Rating

Arlington Heights High School

  • Education Level: High
  • # of students: 1,831
  • # of teachers: 114
4
GreatSchools Rating
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$977
Property Tax -$607
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
-$153

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$264,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,199

INVESTMENT

$72,199

Down Payment
$66,225
Rehab Estimate
$2,000
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 5933 Goodman Avenue Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 5600 Diaz Avenue Fort Worth, TX 1
    • 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 2017
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 5706 Kilpatrick Avenue Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 2016
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 5721 Geddes Avenue Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2019
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
  • 5315 Wellesley Avenue Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2020
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.09
    •  
PROPERTY LISTING DETAILS
Carlene King
Carlene Thomas King
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486659
Last Updated: 12/24/2020
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