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6008 Terrace Oaks Lane Fort Worth, TX 76112

4 Beds 4 Baths 2,728 sqft Built 1999

$340,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $124.63
  • 2 Days on Market
  • MLS # : 14487843
  • Updated Date : 12/19/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,728 sqft
  • Baths : 3 full , 1 half
Listing Agent

Still Brothers & Assoc.

Listing Agent's Description

Home for the Holidays in Fort Worth's RiverBend. Find winding avenues, private parks and fountains in this beautiful neighborhood, located on the West Fork of the Trinity River, just 10 mins from downtown. This warm, charming home features an inviting wrap-around porch, and many updates, on over a half acre with huge oak trees. With the privacy of this gated community, and beautiful landscaping, it seems you are miles away from the city in this quiet and secluded neighborhood. Gatehouse is manned 24-7, and property neighborhood may only be toured with a Realtor.

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: River Estates of Fort Worth

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $104k401k

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

Neighborhood: River Estates of Fort Worth

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9192651

* 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
John T. White Elementary School Primary Regular 761 40 3
Meadowbrook Middle School Middle Regular 584 45 4
Eastern Hills High School High Regular 1,215 96 2

John T. White Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 40
3
GreatSchools Rating

Meadowbrook Middle School

  • Education Level: Middle
  • # of students: 584
  • # of teachers: 45
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,254
Property Tax -$884
Property Insurance -$185
HOA -$200
Property Management Fees -$99
CASH FLOW
-$112

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$340,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,510
$2,510
RENT COMPS ANALYSIS
  • 6008 Terrace Oaks Lane Fort Worth, TX 3
    • 4 beds 4 baths ∙ 2,728 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,728 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.92
    •  
  • 924 Blackberry Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2013
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 937 Glenndon Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 2012
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
PROPERTY LISTING DETAILS
Michael Haley
Still Brothers & Assoc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487843
Last Updated: 12/19/2020
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