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6028 Fire Water Drive Fort Worth, TX 76179

5 Beds 3 Baths 3,050 sqft Built 2021

$367,283

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $120.42
  • 3 Days on Market
  • MLS # : 14532303
  • Updated Date : 03/12/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,050 sqft
  • Baths : 3 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready June 2021! Skip the theater and enjoy movie night at home from the comfort of the Kessler’s second-story game room. White cabinets with sparkly white granite countertops, cool grey EVP flooring with greyish brown carpet in our Distinct package. Located just off of I-820 in Fort Worth, Western Ridge is minutes from the downtown corridor. Explore the nearby Eagle Mountain Lake or the Nature Center and Refuge. Schools in the sought-after Eagle Mt.-Saginaw ISD. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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: Lake Crest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $97k243k

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

Neighborhood: Lake Crest Estates

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
Creekview Middle School Middle Regular 801 47 7

Creekview Middle School

  • Education Level: Middle
  • # of students: 801
  • # of teachers: 47
7
GreatSchools Rating
 

$330,555$404,011$367,283

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,276
Property Tax -$894
Property Insurance -$203
HOA -$33
Property Management Fees -$99
CASH FLOW
-$445

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.

$367,283

PROJECTED PRICE

$2,060

PROJECTED RENT

0.56%

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) 3.00%
Vacancy 6.39%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$99,330

INVESTMENT

$99,330

Down Payment
$91,821
Rehab Estimate
$2,000
Closing Costs
$5,509

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,276

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,821
Loan Amount $275,462
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$50

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,051

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8753$2,0454$2,0605$2,150
$2,150
RENT COMPS ANALYSIS
  • 6028 Fire Water Drive Fort Worth, TX 4
    • 5 beds 3 baths ∙ 3,050 Sqft ∙ Built 2021 5 beds 3 baths ∙ 3,050 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.68
    •  
  • 6117 Chalk Hollow Drive Fort Worth, TX 1
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2016
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 6200 Ryan Creek Road Fort Worth, TX 2
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2016
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.69
    •  
  • 6152 Redear Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.64
    •  
  • 6672 Cascade Canyon Trail Fort Worth, TX 5
    • 5 beds 5 baths ∙ 3,189 Sqft ∙ Built 2006 5 beds 5 baths ∙ 3,189 Sqft ∙ Built 2006
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.67
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532303
Last Updated: 03/12/2021
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