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5936 Center Ridge Drive Fort Worth, TX 76131

3 Beds 2 Baths 1,711 sqft Built 2003

$245,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $143.19
  • 3 Days on Market
  • MLS # : 14496403
  • Updated Date : 01/08/2021 at 21:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,711 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

FABULOUS 1 STORY 3-2-2 WITH STUDY on LARGE CORNER LOT!*WALKING DISTANCE TO COMMUNITY POOL, PLAYGROUND & SOCCER FIELD!*SHOWS LIKE A MODEL!*MANY UPGRADES including 2020 NEW AC & 2019 NEW ROOF*Open concept Floor plan with wood laminate floors,high ceilings,big windows & multiple arched entries to Study optional 2nd Dining*Lrg Kitchen with loads of cabinets & counter space,Breakfast Bar,SS Appliances,Gas Stove & B-I Microwave*Bright Dining & spacious Living with corner cast stone Fireplace & gas logs*Two inch Blinds throughout,split Bedroom arrangement with lrg Primary Bedroom,two sink Vanity,Garden Tub,over sized Shower & W-I Closet*Frt & back Storm Doors,covd back Patio,Storage Bld,partial new bkyd Fencing & more

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: The Crossing of Fossil Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: The Crossing of Fossil Creek

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
Northbrook Elementary School Primary Regular 653 41 5
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

Northbrook Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 41
5
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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$851
Property Tax -$562
Property Insurance -$126
HOA -$33
Property Management Fees -$99
CASH FLOW
-$110

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.

$245,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.5%
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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$3,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,561

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5603$1,5954$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 5936 Center Ridge Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.91
    •  
  • 2661 Silver Hill Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2003
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 5908 Blanchard Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2001
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 2679 Bull Shoals Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2002
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 2688 Silver Hill Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2003
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Stephen Kahn
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496403
Last Updated: 01/08/2021
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