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6032 Spring Ranch Drive Fort Worth, TX 76179

4 Beds 2 Baths 1,658 sqft Built 2018

$240,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $144.75
  • 1 Days on Market
  • MLS # : 14483159
  • Updated Date : 12/12/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,658 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Move in ready! This 4 bedroom 2 bathroom house offers the desirable open floor plan and split bedroom layout everyone is looking for. Built only a few years ago with recent updates that give it that charming farmhouse look! You will fall in love with the white kitchen with 42in cabinets, granite counters, and SS appliances. Large enough dining nook to fit a 6 person table and coffee station. Enjoy a move in your spacious living area with vaulted ceilings and is perfect for that big sectional couch! 4th bedroom offers french doors that can be used as a home office which is helpful for anyone who works remote! Owners suite can fit a king size bed! BBQ under the cover and enjoy the extended patio space.

SEE MORE

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: Stone Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Stone Creek Ranch

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
Ed Willkie Middle School Middle Regular 862 53 5

Ed Willkie Middle School

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

$216,000$264,000$240,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$886
Property Tax -$550
Property Insurance -$123
HOA -$23
Property Management Fees -$99
CASH FLOW
-$91

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.

$240,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.2%
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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,996

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5903$1,6504$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 6032 Spring Ranch Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.96
    •  
  • 6201 Verdon Gorge Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2018
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 6041 Spring Ranch Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2018
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 6237 Obsidian Creek Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,661 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,661 Sqft ∙ Built 2017
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.02
    •  
  • 6013 Amber Cliff Lane Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2018
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Dani Hampton
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483159
Last Updated: 12/12/2020
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