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6016 Iron Creek Road Fort Worth, TX 76137

4 Beds 3 Baths 3,064 sqft Built 2020

INVESTimate

$414,745

List Price

$2,010

$1,809 - $2,211

Rent Est.

$454,395  ( +9.56%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $135.36
  • 9 Days on Market
  • MLS # : 14415938
  • Updated Date : 08/24/2020 at 16:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,064 sqft
  • Baths : 3 full
Listing Agent

Toby Jones

Listing Agent's Description

NEW CONSTRUCTION - Enclave at Fossil Creek in Fort Worth. Two-story Mooreville plan with brick and stone exterior - Elevation B. Available for Nov 2020 move-in. 4BR, 3BA + 3 Living Areas +Fireplace + Covered Patio + Pulte Planning Center + Smart Home Features - 3064+ sq.ft. Open concept layout with stainless steel appliances, quartz countertops, 42inch upper cabinetry - cream, and beautiful wall tile in Kitchen. Fireplace with tile surround in Gathering Room.

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: Fairway Bend

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $104k309k

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

Neighborhood: Fairway Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9192378

* 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
Chisholm Ridge Elementary School Primary Regular 651 37 5
Ed Willkie Middle School Middle Regular 862 53 5

Chisholm Ridge Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 37
5
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating
 

$373,271$456,220$414,745

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,530
Property Tax -$998
Property Insurance -$204
HOA -$37
Property Management Fees -$99
CASH FLOW
-$859

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$414,745

PROJECTED PRICE

$2,010

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.56%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,907

INVESTMENT

$111,907

Down Payment
$103,686
Rehab Estimate
$2,000
Closing Costs
$6,221

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,530

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,686
Loan Amount $311,059
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$45

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9954$2,0105$2,150
$2,150
RENT COMPS ANALYSIS
  • 6016 Iron Creek Road Fort Worth, TX 4
    • 4 beds 3 baths ∙ 3,064 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,064 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.66
    •  
  • 2717 Gray Rock Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2003
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.63
    •  
  • 2709 Calico Rock Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.68
    •  
  • 2825 Fossil Run Boulevard Fort Worth, TX 3
    • 4 beds 3 baths ∙ 3,062 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,062 Sqft ∙ Built 2004
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.65
    •  
  • 3836 Weatherstone Drive Fort Worth, TX 5
    • 4 beds 4 baths ∙ 3,268 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,268 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.66
    •  
PROPERTY LISTING DETAILS
Lee Jones
Toby Jones
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415938
Last Updated: 08/24/2020
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